Agriculture

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Source: Dukascopy Bank
© Dukascopy Bank
Agricultural commodities, except for coffee, edged up on Tuesday. Unfavorable weather forecasts in South America lifted price for corn and wheat while sugar futures managed to climb 0.16%. However,  reports on large sugar crops in the EU and Russia coupled with further prospects for increase in Indian exports essentially limited the gains. Sugar may continue to be supported by weaker US Dollar but prospects for further growth in sugar price are very limited.

Sugar's correlation with other agriculture commodities remains weak as sugar futures were not severely impacted by the US crop report and changing weather conditions in South America. Sugar's interdependence with Standers Poor's SP500 eased down on Tuesday after inspiring economic news form China. At the same time, sugar's alternation with the pair EUR/USD fell again in the negative territory, hitting minus 0.09.


© Dukascopy Bank
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