Biggest agricultural commodity winners and losers for March
Agricultural commodities in March gave back many of their early-year gains.
Hard red winter wheat futures struggled as the drought-hit US southern Plains enjoyed, some, rain relief.
And the soy rally stalled as forecasts for the Argentine soybean crop bottomed out, while a political threat grew, in terms of worries of a China-US trade war, after President Donald Trump unveiled plans for hefty tariffs on up to $60bn in US imports from China.
However, cocoa extended its rally, as fears persisted over a threat from dryness to the Cote d’Ivoire harvest.
And corn prices found support in bumper demand for US exports, plus a late-month US Department of Agriculture forecast for an unexpectedly large drop in US sowings this year.
Source: agrimoney – Biggest ag commodity winners and losers for March
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