Agricultural commodities mixed after USDA report

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Source: Dukascopy Bank
Rural commodities except for coffee were higher on Monday amid broadly weaker US Dollar and improved investors' appetite for agricultural commodities after weather setbacks. Grains gained support as speculation on strong China demand persist. Moreover, USDA report indicated lower estimates for this season crops. However, dry and warm weather may create favorable harvest conditions in the US hence the crops may exceed the initial forecasts. Sugar also moved up despite expectations of ample supplies. Coffee was the only loser on Monday as traders are cautious ahead of the beginning of Brazilian Arabica coffee harvest.


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