Wheat jumped as cold weather delays early planting

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities except for coffee finished on the positive note on Monday on concerns over winter weather across the Upper Plains. Additionally, broadly weaker US Dollar and improved demand for riskier assets lifted rural commodities.

Wheat rose, helped by forecasts of colder-than-normal temperatures across the Upper Plains. However, gains were cut by positive USDA revision of crop conditions. About 36% of the US winter crops were estimated as good or excellent as of April 7, compared to 34% a week earlier.

Corn climbed on rising possibility of short covering after hedge funds reduced their net long position by 98,246 lots in the week that ended April 2. Meanwhile, weak US exports continued to restrict an upward trend of corn prices.

Sugar gained on more optimistic price revisions by Rabobank and Societe Generale. At the same time, ideas of record Brazilian crops and talks Indian government may ease its control on sugar mills pushed the sweetener lower.

Coffee plunged the most in more than a month amid ample global supplies. Brazilian coffee exports in March surged 11% on an annual basis, while shipments from Colombia soared 12% last month.
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Tue, 09 Apr 2013 13:58:08 GMT

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