Agriculture

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Agricultural commodities were mixed on Tuesday amid broadly weaker US Dollar and hopes that a recent slump in prices will attract new buyers. Meanwhile, traders continued to monitor weather conditions in the US and Brazil.

Wheat eased down despite falling exports in Australia and mounting uncertainty whether Ukraine will impose export quotas. Australia is expected to face a 73% drop in wheat sales in 12 months through September as severe drought cut crops.

Corn rebounded, halting the longest fall since March 2011, on signs that lower prices may have boosted US exports.

Sugar was the top-gainer as demand in Asia and the Middle East is strengthening. Global shipments to India, Iran and the United Arab Emirates are expected to surpass forecasts this year.

Coffee plunged as supply-side support appeared to be short-lived. The commodity soared on Monday on concerns that Hurricane Sandy may damage coffee inventories stored in the warehouses at the US East Coast.


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