Rural commodities fell on Monday as supplies are likely to be ample

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Source: Dukascopy Bank
Rural commodities excluding wheat tumbled in thin holiday sessions on Monday, being pressured by weaker world's equities. Wheat was the only gainer as cold weather in the EU is likely to damage winter crops. However, grains came under additional pressure as Ukraine plans to increase spring plantings by 13% to offset winter losses. Corn followed bearish trend due to excellent planting weather in the US that is expected to facilitate current harvest. Investors are cautious ahead of the USDA report on crop forecasts due on Tuesday. Sugar continued to face oversupply in the market, especially after India increased its exports of the sweetener. Meanwhile coffee is expected to advance in the next sessions as Colombia crops were damaged. The country started to import coffee to make up for decline in the domestic output.


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