Rural commodities slumped on Tuesday as China's demand remains uncertain

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Source: Dukascopy Bank
Rural commodities apart from coffee were lower on Tuesday amid uncertainty over China's demand and worse consumer confidence in the US. Wheat came under strong pressure as rainfalls in the key crop-producing regions in the US are likely to boost this year harvest. Meanwhile, corn's correction was blocked by the high US inventory levels. Sugar lost 1.94% as the commodity continued to be depressed by India's decision to allow more sugar exports in the current marketing season.  Moreover, forecast on global sugar output was upgraded. Coffee was the only gainer as adverse weather conditions in Brazil and Colombia may harm the harvest.


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