Corn moved higher on Brazil's crop concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Rural commodities rallied on Friday amid falling Russia's and Brazil's supplies. Adding to the positive mood of the commodity group, the US Dollar retreated on speculation that the Fed will ease its policy further in December.

Wheat soared after Andrei Belousov, Russia's Economy Minister, said that Russia may restrict exports in the autumn in case domestic prices skyrocket.

Corn gained 0.30% on global supply concerns. Brazil, the third biggest world's producer, stated that about one million tons of corn may be damaged by rains.

Sugar climbed on hopes that recent plunge in price will encourage buyers to return to markets.

Coffee was the top-performer, erasing previous losses caused by improving Colombian crops. However, coffee futures remained under heavy pressure as recent increase in prices  motivates farmers to increase supplies.

 

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