Wheat plunged after USDA stockpiles report

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Source: Dukascopy Bank SA
Farm commodities dropped on Tuesday amid dismal demand prospects in the light of fiscal difficulties in Spain and Italy.

Wheat was the top-loser, sliding the most in a week after USDA reported that world's inventories are likely to be larger than forecast.

Corn followed bearish trend as demand is weakening while supplies are expected to be ample due to high US crops and improving weather conditions in the top-growing regions.

Sugar lost 0.84% despite speculation that Brazilian sweetener's production is expected to drop this year amid drought concerns.

Coffee was lower as demand is likely to decline this year on faltering global economy and sufficient supplies. ICO reported that global consumption gained 1.7% last year, being below 12-year average while Brazilian harvest is likely to be record high.


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Wed, 13 Jun 2012 15:28:41 GMT

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Wed, 13 Jun 2012 17:39:42 GMT

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