Coffee rose on Central America's crop concerns

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities were mixed on Friday amid broadly weaker greenback and weak demand for U.S. grains. However, abnormally cold weather in the U.S. and Europe was supportive for the commodity complex.

Wheat was the top-gainer as cold temperatures are delaying development of winter grains in the U.S. and Europe. Meanwhile, Informa Economics estimated a hard red winter wheat harvest at 903 million bushels, a 10% annual decline, and raised its forecast on soft wheat by 20%.

Corn was the top-loser amid liquidation pressure from the funds. Funds sold more than 11,000 corn contracts on Thursday. Moreover, worries that China's bird flu may cut food orders added pressure on corn prices.

Sugar declined on concerns over ample supplies from Brazil. Restringing losses of the sweetener, the data released on Friday showed a record net short position that may encourage short-covering.

Coffee extended previous gains on concerns over Central American harvest. The loss of production in the region caused by leaf rust is estimated to be between five and seven million bags in 2013.
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