Wheat rose the most in two months on speculation that yesterday’s plunge in prices prompted investors to unwind bets that futures would decline.
Sugar futures fell for the third time in four sessions on forecasts that output will recover in India, the world’s top consumer and second-biggest producer. Orange juice rose to a three-week high.
In 2009, agricultural enterprises of the Autonomous Republic of Crimea (Ukraine) received profit on sales of agricultural products and services at the sum of 65.8 mln UAH (8.33 mln USD), with the level of profitability of 4%, a decrease of 8.2% compared to the indices of the previous year, declared the Main department of statistics of the Autonomous Republic of Crimea.
Ukraine planted spring grains on 3.72 million hectares, or 51% of the planned total area, to April 16, the agriculture ministry reported Monday.
Cane production in Indonesia may rise 10 percent after farmers increased planting and raised productivity, potentially helping Southeast Asia’s biggest sugar buyer to reduce imports.
Corn and wheat rebounded on speculation that yesterday’s price slumps were exaggerated. Soybeans also climbed.
Soybeans were little changed, heading for the biggest weekly jump in two months on speculation that China will increase purchases of U.S. soybean oil after curbing imports from Argentina in a trade dispute.
Wheat rose to a six-week high as some speculators reduced bets that prices would decline, after futures capped the biggest weekly rally in two months.
Sugar tumbled more than 5 percent, leading commodities lower, after the U.S. filed a fraud suit against Goldman Sachs Group Inc., one of Wall Street’s biggest traders and brokers of raw materials.
During January-February of 2010, Ukraine increased imports of mineral fertilizers by 3.2 times compared to the same period of 2009 – to the level of 52.5 mln USD, declared the State Statistics Committee of Ukraine.