Corn tumbles despite winter weather in the U.S.

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities finished in the negative area on Monday on weak demand for riskier assets after dismal numbers from the U.S. and China. However, the declines were restricted as unfavorable weather in the U.S., Russia, Canada and Brazil created a supply risk premium for the commodity sector.

Wheat dropped despite extended winter weather in the U.S., Canada and Russia. The grain also found support on talks that U.S. sold 480,000 tonnes of soft, red winter wheat to China.

Corn declined as China's demand may weaken amid combination of bird flu and economic slowdown. However, the commodity remained supported by cold weather in the main growing regions in the U.S. Only about 2% of crop was sown as of Sunday in 18 main growing states compared to 16% a year earlier.

Sugar slumped despite slow start of this season's harvest in Brazil because of heavy rains. At the same time, weak China's imports as the country improved national beet and cane harvests last season sent the sweetener futures lower.

Coffee was bearish amid weakness of the commodity group and expectations for ample supplies from Brazil and Colombia.
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