World Agrinews

Sugar prices will extend a slump, following the biggest quarterly plunge since 1985, as Brazil and India, the world’s largest producers, harvest bumper crops next season, analysts and traders said.

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.

Wheat climbed the most in almost two weeks as the declining dollar makes grain from the U.S., the world’s biggest shipper, more attractive to overseas buyers and as a hedge against inflation.

Russia’s sea ports handled 77.4 million metric tons of cargo in January-February, an increase of 7.9% compared with January-February 2009, according to figures released Monday by the national association of sea ports.