Rural commodities were mixed on Thursday, with grains rebounding and coffee and sugar slumping. Broadly weaker greenback pushed farm commodities higher. Meanwhile, market participants remained focused on weather forecasts in the US, Brazil, India and Russia.
Wheat rallied after, Australia, the second-largest global exporter, announced that wheat harvest may miss government estimates as dry weather harmed crops.
Corn advanced on speculation that US corn output is likely to fall to nine-year low as severe drought curbed crops. Signs that US export demand recovers also sent corn futures higher.
Sugar slid despite reports that global supply glut may tumble by 41% in the season starting from October as dry weather curbed harvest in some Asian countries.
Coffee approached 10-week low amid ample global supplies. Adding pressure on the commodity, Brazil's output is expected to rise by 16% this year as the nation harvests high-yielding cycle of the biennial crop.