Agricultural commodites continued falling after US crop report

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

Agriculture commodities tumbled on Friday following fall in grain commodities after the US crop report indicated higher than expected stockpiles. Even adverse weather conditions in South America were unable to limit the losses. Sugar futures were the most resilient edging down only 0.11%. However, sugar continues to face downward pressure from higher than expected output in Brasilia and Russia coupled with almost unaffected by floods sugar crops in Thailand. However, Societe Generale claims that probable delays or cuts in sugar crop forecasts in India and Thailand may support  sugar price while in short-run it is likely to remain weak due to expected surplus in the market.

 

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