Grains lifted by strong demand; sugar and coffee fell amid ample supplies on Friday

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Source: Dukascopy Bank
Rural commodities were mixed on Friday on the depreciating greenback and expectation of the strong US export demand. Wheat price advanced due to growing interest in the US wheat. Meanwhile, global wheat stocks are ample but adverse winter weather in the EU may increase demand for the commodity. Corn also rallied over the day drawing strength from high soybean prices and supply tightness.  Sugar fell after India reported the 1 million metric tons increase in sugar export. Olam International Ltd. also added to sugar's losses as it expects the commodity oversupply of 7 million tons during this season.  Coffee was the top-loser amid speculation on the improved Brazilian crop outlook. The commodity may seek support on the falling EU stockpiles and lower output in Colombia.


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