News

Sugar rebounded from a seven-month low on speculation that managers of hedge funds and index funds slowed sales after reducing their net-long positions, or bets prices would rise, to the lowest level of the year.

Ukraine exported 17 million metric tons of grain from July 1, 2009, the beginning of the current marketing year, and March 11 this year, practically the same amount as in the corresponding period in the previous marketing year, the Agriculture Ministry said Tuesday.

Wheat futures may jump 8 percent by the end of March if a declining dollar drives the grain past a key level, according to Derek Lewis, a ClearTrade Commodities trader in Chicago.

Cold weather is preventing Ukrainian farmers from planting spring grains, which may lead to a reduction in the barley-planted area and an increase in the areas planted with corn and sunflower, the UkrAgroConsult market analyst said Tuesday.