Coffee went down on record Brazilian harvest

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Source: Dukascopy Bank SA
Farm commodities dropped on Tuesday as crop conditions in the top-growing regions continued to improve. At the same time, economic instability in the Eurozone continued to dampen investors' risk-appetite.

Wheat posted the largest fall in the last four weeks on speculation that rains are likely to revive crops in Russia and Ukraine. Adding to global supplies, US started harvesting wheat crops.

Corn approached 17-month low amid global demand concerns as situation in the Eurozone deteriorates and China economic growth slows.

Sugar plunged on renewed worries that world's supply will outplace demand due to high Brazilian crops.

Coffee extended previous losses as traders continued to eye record high coffee crops in Brazil.


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