Corn's link with coffe decreases after US crop report

Source: Dukascopy Bank
© Dukascopy Bank
Corn continue to face strengthening tie with wheat as all grain commodities fell sharply after US crop report. At the same time, corn correlation with coffee edged down to 0.41 from 0.75 as coffee price continues to be supported by unfavorable weather forecast in South America. Corn's dependence with Dow Jones Industrial Average (INDU) slightly increased to 0.06 over the day as the stock index also faced losses due to dismal economic data from the US. Interchange between corn and the pair EUR/USD dropped on Thursday from 0.18 to minus 0.30 as the Euro appreciated against the US Dollar on the negative news from the US.


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Fri, 13 Jan 2012 16:47:31 GMT

Energy markets tumble despite possible supply disruptions

Energy markets continued to tumble on Thursday with the Dow Jones-UBS Energy Index dropping by 1.62 over the day. Crude oil opened higher yesterday on the possible shutdown of the oil exports from Nigeria; however, after European officials announced that embargo of Iran's oil imports is likely to be delayed for six months, crude oil dropped 1.75%. EIA report on

Fri, 13 Jan 2012 16:47:20 GMT

Grain commodities tumble after US crop report

Agricultural commodities, excluding sugar, fell on Thursday after rallying over the previous day. The commodity group started Thursday on a positive note as weaker US Dollar and anticipation of the US crop report lifted agricultural commodities' prices. However, after the release of the US crop report that unexpectedly indicated an increase in global grain supplies, corn and wheat tumbled to

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