Corn dipped after USDA report on US exports

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities were mixed in post-holiday trade on Wednesday. Improved risk sentiment due to hopes for US fiscal deadlock resolution was supportive for rural commodities. At the same time, weak US export data weighted on grains.

Wheat was the top-loser after the USDA reported that US exports dropped 9.1% to reach the lowest level since 2009 in the week ended December 20. However, speculation that a fall in prices will attract importers from the Middle East limited the downswing.

Corn slumped on signs of weak demand for US supplies. US corn inspected for export dipped 18% in the week ended December 20 from a week earlier. US exports tumbled 66% year on year last week, according to the USDA.

Sugar moved higher despite ample global supplies and rising refined sugar exports from India.

Coffee was the top-performer on recent Barclays' comments that Brazilian harvest will be lower next year due to low-yielding crop cycle. The bank also highlighted high potential for short-covering after a recent drop in Arabica coffee prices.


Back to articles

Actual Topics

Thu, 27 Dec 2012 11:35:34 GMT

Europeans shares steady as fiscal cliff talks are ready to resume

After Christmas holidays, shares in Europe were steady on Thursday as U.S. President Barack Obama is prepared for another round of negotiations in order to avoid tax hikes and spending cuts after January 1. European shares opened at 1137 points, when London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX recorded changes in a range of 0.1% lower and 0.4% higher.

Thu, 27 Dec 2012 10:40:34 GMT

Brent oil jumped on US fiscal hopes, upbeat US housing data

Energy futures advanced on Wednesday on hopes that US officials will resolve the budget impasse thus avoiding recession in the country. Moreover, larger-than-expected increase in the US home prices in October as well as weaker greenback spurred rally of the commodity group. Crude oil rebounded on expectations that US lawmakers will reach an agreement on fiscal policy before the January

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.