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.
Russia planted spring grains on 1.045 million hectares to April 14, which is 693,000 hectares less than on the same date last year, the Agriculture Ministry announced Thursday.
European Union 2010-11 soft wheat production is revised up slightly on the month to 134.2 million metric tons, Strategie Grains data showed Thursday.
Wheat rose for the third time this week on signs that hedge funds and other large speculators are unwinding bets that prices will fall.
Corn rose to a three-week high on speculation that China, the second-biggest producer and consumer, may import more to reduce domestic prices that reached a 20-month high last week.
Sugar rose to the highest price this month in New York on speculation that importing countries will boost purchases.
Hog futures fell from a 13-year high on signs that traders are making sales to lock in profit after prices surged 29 percent this year. Cattle also dropped.
Russia is capable of exporting 30 million tons of grains next season but it depends on market demand, the President of Russian Grain Union said Wednesday.
Sugar futures rose for the third straight session, bolstered by increasing import demand.
Wheat rose for the second straight day as some speculators unwound bets on a market slump after futures failed to drop below a widely followed price-chart level.