Sugar slid on prospects for more Indian exports

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Source: Dukascopy Bank
Rural commodities continued to fall as excellent weather conditions in the key planting regions escalated worries over surplus in the market.

Sugar was the top-loser after India reported it plans to allow additional one metric ton of the sweetener's exports this year to ease oversupply in the domestic market.

Coffee rebounded after previous lows as concerns over record low Colombian crops provided stimulus for the commodity.

Wheat fell to three-year low as favorable weather forecasts in the US boosted harvest prospects. However, the tumble was cut by 20% lower Bulgarian wheat harvest because of adverse weather that damaged 30% of winter wheat crops.

Corn dropped ahead of the meeting of Argentine's officials who will consider increasing corn export quotas and will discuss crops estimates for current marketing season.


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