Sugar advances on possible decline in Brazil's supplies

Source: Dukascopy Bank SA
Farm commodities were mixed on Friday amid worries over weak demand for US supplies and unfavorable weather in Argentina. Meanwhile, market players continued to monitor weather conditions in the key growing countries to gauge crops supply potential.

Wheat dropped despite speculation that demand from livestock producers may climb. Sending wheat futures lower, Sovecon raised its Russia's wheat crop estimate to 85-89 million tonnes from 80-87 million tonnes, citing better-than-expected conditions of winter crops.

Corn edged higher on possible frost in Argentina coupled with talks US sowing may decline this year. Moreover, the USDA report showing that US stockpiles may drop to a 17-year low before the next harvest lent support to corn futures.

Sugar ended in green as speculation that Brazilian farmers may direct more cane to produce ethanol instead of sugar continued to push the sweetener higher.

Coffee returned to its losing streak amid talks that record volume of Brazilian harvest and recovery of supplies from Colombia will offset possible crop losses in Central America where coffee leaf rust threatens harvest.
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