Agricultural commodities lower on the oversupply concerns

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Source: Dukascopy Bank
Agricultural commodities, except for corn, posted loses on Friday. Corn, the top-performer, stayed on the positive area mostly due to expected output cuts after severe drought in South America.  Sugar and coffee were the biggest losers amid ample global supplies. At the same time, wheat also lost 0.96% despite speculations over the export restrictions that may be imposed by Russia, Ukraine and Argentine, the largest wheat producers. However, the International Grains Council predicts substantial wheat output despite some production falls and the global market is likely to end this year with 210 million tons wheat surpass.


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Mon, 30 Jan 2012 17:31:42 GMT

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