Coffee surged as frosts in Brazil are expected

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Source: Dukascopy Bank
Rural commodities balanced between favorable weather conditions in the US planting regions and expected frosts in Brazil.

Wheat decreased for the first time in four sessions after US government reported that farmers accelerated planting due to warm and wet weather.

Corn faced some gains despite expectation that US farmers will plant the most acres since 1937.

Sugar approached one-year low as amount to be delivered in May was bigger than estimated. However, sweetener's prices in India rose as producers await more export permits.

Coffee rocketed as frosts are expected in the main coffee-growing areas in Brazil that can damage coffee trees. Moreover, Colombia's coffee harvest is estimated to be 28% lower than in the previous marketing season.


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