Agriculture

Source: Dukascopy Bank
© Dukascopy Bank
Agricultural commodities rallied on Tuesday amid concerns over lower global crops. Unfavorable weather conditions in South America impacted severally the crops of grain commodities and coffee. At the same time, sugar remained resilient to the expected ample supplies. Corn futures extended the gains of the previous sessions on the speculation that the largest producers like Russia and Argentina plan to curb corn output. However, broadly stronger US Dollar and situation in Greece may limit the upswing.

Link between corn and sugar remained steady on Tuesday at 0.16 while correlation with coffee edged lower to 0.49 as essential fall in the coffee crops is not expected. Tie between corn and wheat stayed at one-month high of 0.94 on the threats to global grain supplies. Meanwhile, link between corn and Standard Poor's SP500 remained weak at minus 0.01 while the commodity interchange with the pair  EUR/USD was unchanged at minus 0.17 since the beginning of the week.


© Dukascopy Bank
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Thu, 26 Jan 2012 07:09:45 GMT

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Energy

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