Wheat jumps amid dry weather concerns

Source: Dukascopy Bank SA
Farm commodities apart from sugar finished the week in the green area amid escalated concerns over the US winter-wheat crops and coffee leaf rust in Central America. Strong US grains export data released on Thursday also supported grains.

Wheat attained a three-week high on concerns over the US winter-wheat harvest. The US Climate Prediction Center expects dry weather to persist in the southern Great Plains for the next three months. Dry weather in Australia also may damage the crop in the country, rising worries over global supplies.

Corn followed wheat's suit, adding 0.41%. Corn found support on the USDA report indicating that US corn inventories at the end of the marketing year on August 31 were expected to be at a 17-year low.

Sugar was the only loser despite an increase in China demand. China bought 250,000 metric tonnes of the sweetener as lower prices made imports more attractive.

Coffee prolonged its rally on Central American crops concerns. Coffee output in Guatemala, Nicaragua and Costa Rica may drop this year amid spreading coffee leaf rust.
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