Wheat climbs but cocoa soarsLea Jakobiak
Corn is bouncing back from the lows we saw earlier this month and wheat is starting to recover too, and it's all down to the cold weather, according to Saxo's Ole Hansen. He adds that export demand for wheat from Egypt is also lending support.
Cocoa has surged to a 28 month high; demand in the soft commodity is increasing at a time when supply is not keeping up. But when it comes to sugar, it’s actually the other way around; there’s ample supply and demand is stable. Ole says India may not export as much as planned, and any upside will be due to position adjustments rather than changes in fundamentals.