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Bad Weather Benefit Agricultural Commodity Prices

August 27, 2013 at 3:00 by Vladimir Vyun

Weather is different in various parts of the world, but has one common feature: it is usually adverse to plants. The United States experience heat, Brazil suffers from freezing temperatures, while Indonesia is awash with torrential rain. Such conditions are positive for agricultural commodities prices.

The general market sentiment supported the agricultural market as it did to the energy and metal markets. Corn and soybeans rallied earlier, but retreated as of now. Coffee and sugar retained gains.

December futures for delivery of corn dropped $0.0125 (0.25 percent) to $4.9925 per bushel as of 2:25 GMT on CBoT today. November contract for delivery of soybeans slid $0.035 (0.25 percent) to $13.86 per bushel. December Arabica coffee advanced $0.007 (0.6 percent) to $1.1775 per pound on ICE. October sugar gained $0.0014 (0.85 percent) to $0.1661 per pound.

If you have any questions and comments on the commodities today, use the form below to reply.

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