Wheat eased up as Russian harvest deteriorates further

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

Farm commodities were mixed on Monday amid long-awaited rainfalls in the US and favorable weather conditions in Brazil. Easing concerns over the Eurozone's debt crisis added to gains of agricultural commodities.

Wheat edged up on speculation that the Russian harvest continued to deteriorate because of hot and dry weather.

Corn retreated as the US faced rainfalls last weekend. Rains are likely to boost crops after the worst drought in 56 years.

Sugar was the top-loser on improving global supplies. Sending sugar futures lower, India has recently imposed a 10% margin on futures contract.

Coffee rallied despite potential increase in supplies as Honduras coffee output is expected to reach a record high in the year ending September 30.

 

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