Sugar extended losses as supplies are ample

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Source: Dukascopy Bank SA
Agricultural commodities went down despite the fact that weather conditions in the US and Russia may deteriorate thus restricting global supplies.

Wheat declined despite reports that hot and dry weather in the US, Russia and Australia may spur the largest fall in world's supplies since 2003.

Corn increased for the first time in the last three trading days as unfavorable weather conditions in the US are expected to damage US crops.

Sugar may drop further as output is likely to exceed demand due to higher Brazilian sweetener's sales.

Coffee continued to fall as EU debt crisis is eroding global consumption while Latin America is expected to boost coffee crops over current marketing season.
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Thu, 24 May 2012 19:27:49 GMT

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