Corn edged up as US farmers may slow sales

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Rural commodities, excluding wheat, advanced on Tuesday, drawing strength from weak US Dollar and positive data releases from the US and Europe. Capping the upside of farm commodities, demand for US exports remained soft due to availability of cheaper supplies from Brazil and Russia.

Wheat inched down for the third consecutive session on speculation that rains in Kansas, the top US grower of winter varieties, will boost harvest prospects.

Corn eased higher as US farmers may slow sales to increase prices. The US exports continued to fall last week as US corn prices are higher than those of South America.

Sugar advanced despite speculation that global supply glut will persist for third year in a row as Brazil and Australia continued to expand output.

Coffee gained in risk-on trade as weaker US Dollar prompted investors to turn to riskier assets. However, eased supply concerns in Brazil limited gains of coffee futures.


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