Corn dropped on accelerating US harvest

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Farm commodities apart from coffee edged down on Monday on signs that US export demand is slowing. Better crop conditions in Brazil and India also weighted down on the agricultural commodities.

Wheat was lower as US export growth is slowing as Russia sells wheat below the US prices inflated by recent drought.

Corn was the worst-performer as US harvesting started to accelerate after drought. However, crop yields still remain low, limiting the downswing of grain commodity.

Sugar extended its slump after Unica announced that Brazil's Center South region's output rose 14% in the first half of August.

Coffee posted the largest increase in five weeks on speculation that tropical storm Isaac will damage coffee beans stored in warehouses in New Orleans.

 

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