Coffee rallies as Mexico may lose up to 30% of harvest

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Farm commodities except for sugar were bullish on Thursday amid mounting concerns over unfavorable weather in the U.S. Great Plains. Cold temperatures in the U.S. are impacting the development of winter varieties and slowing early plantings. At the same time, abundant supplies from Brazil weighed on softs.

Wheat edged higher after the USDA confirmed China's order of the grain. However, the USDA announced China bought 360,000 tonnes from the US, below expectations of 800,000 tonnes. Meanwhile, wheat futures drew strength from cold temperatures in the U.S., Canada and Russia.

Corn rose as cold and dry weather in the main growing areas of the U.S. is delaying planting. However, corn remained under pressure as China's demand for grain may drop because of bird flu.

Sugar was the only loser as global production is exceeding consumption. Global supplies are expected to outplace demand by 11 million metric tonnes this year due to rising output from Brazil and Thailand, reported Sucres et Denrees SA.

Coffee extended its gains on recent USDA comments. The USDA reported about 30% of Mexican harvest may be affected by leaf rust in 2013-14 crop season.
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