Rural commodites declined as global demand remained uncertain

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Source: Dukascopy Bank
Rural commodities retreated on Friday on the global demand uncertainty. Wheat was among the top losers, falling by 2.46% over the day as ProZerno reported on the 1.4% increase in the grain planting areas this season. Meanwhile corn also came under pressure from global economic instability. However, the downswing was limited as expected rains in the US are not likely to improve planting conditions after dry weather. Sugar was the worst performer as Brazil is likely to boost the sweetener's supplies during current marketing season. Coffee continued its bearish trend despite potential decline in the global Arabica coffee output as Colombia announced a 26% fall in coffee production last month as severe rainfall impacted crops.


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