Corn tumbled as demand for US crops weakened

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Source: Dukascopy Bank SA
Agricultural commodities balanced between gains and losses on Friday amid broadly lower greenback and better weather conditions in the EU.

Wheat dropped as demand for US crops deteriorated. Harvest conditions in France improved after recent rains while Iraq bought about 250,000 MT of wheat primarily from Russia, Australia and Canada.

Corn posted the largest weekly fall on speculation that strong demand for overseas supplies will impact exports of US gains.

Sugar was the top-gainer, rallying the most in more than week on worries that rains in Brail will reduce harvest.

Coffee eased up on worse weather conditions in Brazil; however, global economic uncertainty continued to weight on consumption outlook.


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Mon, 18 Jun 2012 15:10:56 GMT

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