Agricultural commodities soared on strong demand; Ukraine's harvest limited gains

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Source: Dukascopy Bank
Agricultural commodities advanced on Thursday on the weaker US Dollar and anticipation of new easing measures from the Fed. Grains were mostly bolstered by speculation that the US demand for livestock feeders will be stronger. Moreover overseas consumption is also likely to improve. However, wheat's rally was limited as Ukraine expected higher export volumes than predicted. Corn as well was weakened as Ukraine increased plantings by 5%. Sugar rose as harvest in the top sweetener-growing regions in Brazil may be lower because of the adverse weather conditions in the country. Coffee also increased despite global upgrade of the crops as Brazil and India are likely to produce more coffee beans than initially projected.


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