Rural commodities apart from wheat fell on Wednesday amid speculation that favorable weather conditions in Brazil and US may boost crops. At the same time, broadly stronger US Dollar created heavy pressure on farm commodities. Meanwhile, market players awaited the USDA global crops report due on Thursday.
Wheat was the only gainer on speculation that lower crops worldwide will boost demand for US supplies. Analysts predict the USDA to cut its estimate for global wheat output in the report due on Thursday.
Corn slumped on signs that US harvesting is accelerating. The USDA reported that about 69% of corn was harvested last week compared to 54% in the preceding week.
Sugar dipped on signs that demand is slowing. Brazilian sugar producers are selling their sweetener at a bigger discount.
Coffee attained one-month low as concerns that rains in Brazil will damage crops eased. Meanwhile, traders focused on flowering of the next year's crop in Brazil.