Coffee slides as Colombian coffee growers end strikes

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Source: Dukascopy Bank SA
Rural commodities were mixed on Tuesday amid broadly stronger US Dollar and profit-taking after previous gains. Grains continued to feel support from Friday's Wasde report that lifted consumption estimate for domestic livestock producers.

Wheat climbed on ideas that lower prices will attract new buyers. Lending an extra support, some traders doubt about sustainability of crop improvement in Kansas and Oklahoma as these areas missed out significant rainfalls.

Corn moved higher as a possible increase in feed use outweighed concerns over weak demand for US exports. Moreover, expectations of an increase in the US ethanol production lifted corn futures. Sugar was flat as traders sold contracts to lock in gains.

Sugar prices surged last week on logistics problems at major ports in Brazil and talks over a potential increase in ethanol production in the country.

Coffee tumbled as concerns over strikes in Colombia alleviated after coffee growers won a government subsidy on Friday. However, worries over coffee leaf rust that threatens crops in Central America continued to support coffee prices.
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Wed, 13 Mar 2013 11:59:06 GMT

Germany decreases planned borrowing

Angela Merkel's cabinet approved a draft of budget for the upcoming year on Wednesday. The cabinet is aimed to decrease the country's net borrowing to 6.4 billion euros in 2014 from 17.1 billion, which were planned for 2013. The government also expects to have higher tax revenues in 2015, which will allow having a balanced budget during that year.

Wed, 13 Mar 2013 14:07:46 GMT

AUD/USD retests the 20-day SMA

During Friday's trading session the pair sharply dropped to the weekly PP level at 1.0209, but today the pair has already regained its position and even surged above the 20-day SMA, which is currently located at 1.0257.

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