Corn's link with coffe decreases after US crop report

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Source: Dukascopy Bank
© Dukascopy Bank
Corn continue to face strengthening tie with wheat as all grain commodities fell sharply after US crop report. At the same time, corn correlation with coffee edged down to 0.41 from 0.75 as coffee price continues to be supported by unfavorable weather forecast in South America. Corn's dependence with Dow Jones Industrial Average (INDU) slightly increased to 0.06 over the day as the stock index also faced losses due to dismal economic data from the US. Interchange between corn and the pair EUR/USD dropped on Thursday from 0.18 to minus 0.30 as the Euro appreciated against the US Dollar on the negative news from the US.


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