Coffee soared as rains in Brazil delay crops

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Rural commodities apart from coffee decreased on Thursday on long-awaited rains in the US and expected demand fall as global economy slows.

Wheat futures retreated from four-week high on speculation that wetter weather in the US Great Plants will boost harvest.

Corn was the top-loser as large harvest in Brazil is likely to add to global surplus while stagnating US growth weights on demand perspectives.

Sugar plunged after India reported its sugar exports soared after the country removed export restrictions.

Coffee was the top-performer as rainfalls in Brazil are likely to delay harvest and damage crop quality.



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Fri, 22 Jun 2012 14:00:33 GMT

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On Friday, the Greenback was mainly lower versus other major currencies on weak U.S. data and pessimistic German business sentiment. EUR/USD gained 0.09% and reached 1.2551 in U.S. morning trade. Cable increased by 0.04% and hit the 1.5601 level. USD/CHF lost 0.10%, consolidating at 0.9569. However, USD/JPY advanced 0.02% and reached 80.30.

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