Coffee dropped as weather in Africa improved

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Source: Dukascopy Bank SA
Agricultural commodities dropped on Thursday as weather conditions in the US  improved while demand remained uncertain.

Wheat eased down on speculation that long-awaited rains in the US Great Plans will be sufficient to revive crops. Moreover, wetter weather boosted harvest perspectives in Canada.

Corn moved lower for the first time in the week as rains in the US top-growing regions stimulated hopes for better harvest.

Sugar was the worst performer on consumption uncertainty amid global fiscal worries.

Coffee extended previous losses as favorable weather conditions in Africa are likely to result in better crops this year.


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