Corn rallied on adverse US weather

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Source: Dukascopy Bank
Agricultural commodities were mixed on Friday as US weather remains abnormally hot while sugar and coffee supplies are rising.

Wheat rallied for six consecutive sessions, approaching eight-month high as exceptionally hot temperatures in the main grain-growing regions in the US and Russia may harm crops.

Corn followed wheat's suit, gaining 1.68% as dry and hot weather in the US slows development of crops. Moreover, Argentina has revised down this year crop estimates, providing additional spree for the commodity.

Sugar fell as speculation that supplies may outplace demand impacted the sweetener's price.

Coffee declined after reports that Latin American coffee exports rose by 4.5% in April.
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