Sugar tumbled amid rising global supplies

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Source: Dukascopy Bank SA

Farm commodities retreated on Thursday despite potential demand increase from the Eurozone after the ECB President pledged to save the Euro by any means. Improving weather conditions in Brazil and the US sent the commodity group down.

Wheat dropped more than 2% despite reports that Russia's crops fell essentially this year because of the drought.

Corn moved down as recent price rally provoked profit-taking among investors. High prices also weight on demand for corn as livestock feed.

Sugar declined the most in more than four weeks as favorable weather conditions in Brazil are facilitating harvesting and boosting output.

Coffee slid despite persistent worries over impact of recent rains in Brazil on coffee beans quality. Moreover, an expected 16% decline in Vietnam coffee production by 2015 may lift the price in the next sessions.

 

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Fri, 27 Jul 2012 18:23:40 GMT

U.S. economy expanding at a slower pace

As reported by the Commerce Department, the world's biggest economy expanded by 1.5 per cent in the second quarter, as Americans are getting more cautious on spending, because of the softening job market. While major forecasts were around 1.4 per cent increase in gross domestic product, still the economy grew by 0.5 per cent less, than in the prior quarter.

Fri, 27 Jul 2012 17:50:40 GMT

Heating oil climbed as US inventories remained low

Energy markets soared on Thursday on easing worries over the Eurozone's economic instability after Mario Draghi promised to preserve the Euro. Unexpected increase in durable goods orders and positive labour market data from the US also spurred the upward trend of the commodity group. Crude oil surged on weaker US Dollar and brighter demand prospects.  However, concerns over slowing China's economy

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