Coffee and sugar were down, grains were up ahead of March contract expiration

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Source: Dukascopy Bank
Rural commodities were mixed on Wednesday with advancing wheat and corn and falling sugar and coffee. Sugar manly continued Tuesday's decline as traders tended to cash out from the market on the four month high sugar price before switching to April contracts. However, investors attempt to keep an eye on the Brazilian crop conditions. Coffee also was among losers as South American Arabica coffee harvest is likely be higher than expected. Moreover, Indonesia plans to boost coffee exports by 38% in the current coffee season. The ICE coffee stockpiles also faced an increase during last days. Meanwhile, grain futures were solid during the volatile trade ahead of expiration of March contract. In addition, concerns over the Kazakhstan's crops weighted up on the wheat price.


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