Corn slumped as US harvest approaches completion

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Rural commodities apart from wheat tumbled on Thursday on stronger greenback. Moreover, easing worries over destructive Hurricane Sandy weighted down on the commodity group. At the same time, mounting concerns that  rains in Brazil will delay harvesting lent some support for farm commodities.

Wheat was the only gainer, climbing for the second consecutive session. The USDA reported that US winter-grain conditions are the worst in 27 years.

Corn dropped despite worries that rains in Brazil may cause delay in early-season corn harvesting. However, the USDA announced that about 91% of the US corn was harvested by the end of last week, creating additional pressure on corn prices.

Sugar declined for the second session in a row on signs that world's supplies are likely to be ample. China's sugar inventories are expected to rise to a record six million metric tons in the year that began October 1.

Coffee slumped to four-month low after the largest operators of New Jersey warehouses reported no damages to coffee inventories from Hurricane Sandy.


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Fri, 02 Nov 2012 09:50:07 GMT

Asian stocks gain as economic outlook on the U.S. improves

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Fri, 02 Nov 2012 10:29:08 GMT

Brent oil slid despite falling US inventories

Energy futures were mixed on Thursday amid broadly stronger US Dollar and solid global equities. An unexpected drop in the US crude oil inventories last week lifted crude oil. Energy prices were also boosted by better-than-expected data from the US labour market. US non-farm employment surpassed forecast last month. Crude oil rallied after the EIA reported that US stockpiles tumbled

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