Rural commodities mixed on Monday amid ample supplies

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Source: Dukascopy Bank
Rural commodities were mixed on Monday with growing coffee and corn prices and falling wheat and sugar futures. The commodity group was supported by the upbeat PMI data from the US and China; however, firmer US Dollar created some pressure. Wheat was lower as Russia exports are expected to be higher than initially estimated during current marketing season.  At the same time, corn drew strength from strong demand from China and a 4% fall in March grain exports from Ukraine. Sugar continued to face oversupply concerns that blocked upside spurred by improving physical demand. Coffee rebounded after previous decline as global demand continued to grow while Brazilian crops remained uncertain.


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