Coffee rose on adverse weather in Brazil

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Rural commodities apart from coffee declined on Monday on speculation that weather conditions in the US top-growing regions are likely to improve in the nearest future. Meanwhile, traders are cautious ahead of the USDA global crop report due on Wednesday.

Wheat fell as expectations for cooler weather and rains in the northern part of the US Great Plains will ease stress of harvest pressurized grain commodities.

Corn moved lower as commodity demand for feeding livestock is likely to ebb as prices surged on drought in the US.

Sugar declined on world's demand worries and profit-taking. However, lack of rains in top-sweetener growing regions in India weighted up on the sugar futures.

Coffee rose, being supported by El Nino weather pattern in Brazil and Colombia. At the same time, Societe Generale stated that initial estimates look optimistic but there is room for further downgrades. 

 

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