Farm commodities tumbled on Monday as turmoil in the Eurozone and recent rally of grain futures started to erode demand prospects. US Dollar strength and rain forecasts in some US regions also depressed the commodity pack.
Wheat suffered a significant reversal after previous jump as some US regions may face crop-boosting rains in the nearest future.
Corn plunged on speculation that Eurozone's crisis may dampen demand. Even USDA data on harvest conditions failed to support corn futures. USDA stated that condition of domestic crop fell to 26% good to excellent from 31% a week earlier.
Sugar retreated from 10-week high on persistent negative data flow from the Eurozone. At the same time, experts claim that sugar surplus started to tumble, hence providing slight support for the sweetener.
Coffee followed common trend, sliding almost 1% on expectations for better Indonesian harvest.