Coffee tumbled on favorable weather conditions in Brazil

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Source: Dukascopy Bank SA
Farm commodities were mixed on Wednesday amid stronger greenback and solid global equities. Uncertainty over whether Ukraine will impose export restrictions supported grain futures. However, dismal news from the eurozone and weakening demand for US supplies pushed the commodity group lower.

Wheat was the top-gainer as concerns that Ukraine may limit exports persisted. However, solid US Dollar restricted an upward trend of the commodity.

Corn retreated as US harvesting nears completion while demand for US supplies continued to soften.

Sugar inched higher despite higher Brazil's production. Sugar output in Brazil Center South rose by 57% in the first half of the month, according to Unica.

Coffee dropped as Brazil, the world's top-producer, is expected to witness rains next week that may boost next season crops.


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