Wheat rose on dry US weather

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Source: Dukascopy Bank
Agricultural commodities eased up on Monday as weather conditions in the US deteriorated. However, concerns over Greek political deadlock restricted gains.

Wheat advanced on speculation that dry weather in Kansas may curb crops. Moreover, low wheat prices are likely to attract more buyers in future.

Corn was unchanged as commodity balanced on improved Asian demand and expected ample supplies due to record crops in the US.

Sugar added 0.25% despite expected 13% increase in Australian harvest and forecasts of sharp fall in the sweetener's price to below 18 US Dollars per pound.

Coffee gained on the recent decline in Colombian crops. However, the rally was capped by USDA report that Brazilian coffee crops are likely to grow by 13.6% this year.
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Tue, 15 May 2012 13:53:52 GMT

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