Rural commodities rose on Thursday amid Brazilian crops uncertainty

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Source: Dukascopy Bank
Rural commodities apart from coffee advanced on Thursday on the talks over Brazilian crops. Grains were mostly lifted by the fears that favorable US weather may soon deteriorate, impacting the plantings. Wheat also caught momentum on stronger export and growing concerns over the EU, North African and Russian harvest. Moreover, unexpected surge in Tunisian and Moroccan imports because of dry weather also lent support to the wheat futures. Corn was bolstered by the increase in Japan's purchases and lower Argentina's crops. Sugar despite being pressured by the ample global supply managed to climb as Brazil delayed sugar processing amid dry weather. At the same time, coffee continued to swing on the tightening of the Colombian output and expectations for Brazilian crops.


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