Coffee bounced on the bargain buying

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Source: Dukascopy Bank
Rural commodities except for wheat jumped on Thursday as weaker US Dollar and solid equities lent support for the group. Sugar gained 0.17% during the day, showing its resilience to the improved weather conditions in South America and expectations of ample global supplies Wheat was the only loser as the UN upgraded its wheat harvest forecast thus increasing probability of oversupply on the market. Corn rebounded after falling on the weaker than expected China's demand. Coffee bounced from the 16-month low as record low prices created bargain opportunities for investors. However, traders are cautious as Brazilian coffee harvest looms.
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