Agriculture rallies amid weather concerns and strong demand

Source: Dukascopy Babk
Agricultural markets rose on Thursday with grain commodities extending previous gains and sugar and coffee finding new room for encouragement. Grain commodities were strongly supported by expected cut in exports of top grain producers because of unfavorable weather conditions. Sugar was mostly backed up by the depreciating US Dollar after Fed's decision and poor economic data from the US. Moreover, there are signs of China's demand for sugar to remain firm. However, expected ample supplies from Russia, Pakistan, the EU and Thailand are likely to create pressure on sugar price. The ABN AMRO predicts sugar price to average at 21 cents per pound over this year, being almost 20% lower than in 2011.


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Fri, 27 Jan 2012 15:10:08 GMT

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