Wheat soared on higher export demand

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

Farm commodities advanced on Thursday amid broadly weaker US Dollar and rising demand for grains form the world's top importers. Meanwhile, investors remained focused on weather forecasts in the US, Russia, Brazil and India.

Wheat rallied on signs that high prices failed to dampen importers' demand. Jordan agreed to buy 100,000 tons from Ukraine while Egypt is seeking to buy at least 60,000 MT of milling wheat.

Corn rose on softer greenback. However, weakening global demand limited the gains of the commodity. China expects its corn imports to drop to one million tons.

Sugar climbed despite better crop conditions in Brazil. Brazilian shipments accelerated by 18% as dry weather speeds up loading.

Coffee rebounded on fears that lower crops in Latin America will tighten global supplies.

 

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