Sugar rose on supply threats from India

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities advanced on Monday as recent drought in the US may have caused more damage than initially estimated. Moreover, threat of adverse weather conditions in India lifted rural commodities.

Wheat rose almost 1% as crops in Australia, Russia and the US are likely to attain record low because of severe drought this year.

Corn was the top-performer on speculation that the US government underestimated the effect of drought on the crops.

Sugar rallied on worries that El Nino weather pattern may return to India and bring drought, thus weighing down of the sweetener's harvest.

Coffee halted its slump on news that coffee production in Peru is expected to fall by 16% from the initial forecast as heavy rainfalls damaged crops and provoked plant disease.

 

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