Rural commodities hit lower on Tuesday amid improving US crop conditions

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Source: Dukascopy Bank
Rural commodities apart from coffee were lower on Tuesday on the firmer US dollar and weaker equities. Grains were the top-losers as negative news from China are likely to impact the country's demand for the commodities.  Wheat hit one-week low as rains in the US are expected to create highly favorable conditions for winter harvest. Moreover, Russia's decision not to impose the limit of wheat export this year weighted on the commodity price. Corn mainly followed wheat's trend. Meanwhile, sugar fell on the expectations for higher global sugar output that is likely to outplace the demand. However, uncertainty over Brazilian crop conditions may push the sugar futures up. Coffee was the only gainer as its surplus is likely to be less than anticipated due to stronger demand, especially in coffee-producing countries.


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