Corn retreated on potential demand slump

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

Farm commodities, excluding corn, rose on Friday amid adverse weather conditions in Russia and US. However, better weather in Brazil and India capped the upswing. Meanwhile, upbeat US consumer sentiment data improved demand prospects for rural commodities.

Wheat jumped for the third session in a row on hopes that declining supplies from Russia will boost demand for US grains.

Corn was slightly lower on speculation that recent rally in prices will cause a decline in demand. However, news that US farmers may harvest less corn than government's forecast limited losses of the commodity.

Sugar halted its decline despite potential increase in Brazilian and Indian supplies due to favorable weather conditions.

Coffee inched up despite positive news from Brazil. Brazil is expected to complete coffee harvesting in the first half of September amid dry and warm weather.

 

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