Sugar rose despite ample supplies

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Source: Dukascopy Bank
Rural commodities rebounded after previous losses as adverse weather in the EU planting regions is likely to increase demand for US supplies.

Wheat managed to climb by 0.21% as worse weather may curb global wheat supplies. Global grain supplies are expected to fall by 3.6% this year.

Corn was top-performer despite record high crops expected this year as US farmers intended to plant the most acres since 1937.

Sugar bounced off 12-month low as Brazilian weather conditions remain uncertain. However, global supplies are likely to be ample as India removed any limits on the sweetener's exports.

Coffee declined the most in six weeks on the expectation for oversupply in the market, especially from Brazil, as its coffee crops are likely to be 1.7% bigger than forecast.


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