The durum crop in Canada's top producing province is in its worst condition in at least 13 years, hurt by a cocktail of heat, strong winds and lack of rain, official data showed, at a time when prices have already shown "solid gains".
The prospect of a trendline yield in corn fades as each day passes. Last week, the crop rating fell 2 notches to 62 percent in good-to-excellent condition and is below the 10-year average of 64 percent.
Chicago Board of Trade (CBOT) Wheat futures posted fractional to 4 ½ cent gains in most Kansas City Board of Trade (KCBT) and Chicago Board of Trade (CBOT) contracts on Wednesday, with MPLS 10 to 13 cents higher in the nearby contracts.
New York Mercantile Exchange (COMEX) Gold jumped 1 percent to a six-week high on Wednesday, after the United States Federal Reserve said it would start to wind down its massive holdings of bonds "relatively soon, pushing the dollar lower.
New York Mercantile Exchange (NYMEX) Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures above $50 a barrel, as a much steeper than expected decline in United States inventories encouraged hopes the global crude glut would recede.
InterContinental Exchange (NYSE) The front-month September arabica coffee closed up 4.2 cents, or 3.22 percent, at $1.348 per lb after surging in late trade. September robusta coffee settled up $43, or 2.05 percent, at $2,143 per tonne after reaching a session high of $2,145.
"Overly dry weather" has left the world on track for its steepest drop in grains output in at least a decade, the International Grains Council said, flagging "particular concerns" over supplies of high-quality wheat.
Intercontinental Exchange (ICE) Raw sugar on ICE Futures United States jumped on Wednesday and arabica coffee notched the biggest one-day rally in more than a month as Brazil's currency advanced and bullish chart signals propelled further buying.
The recovery which lifted wheat futures to a positive close in the last session extended into this one, as investors crunched through the implications of the numbers from the a crop tour of drought-hit US spring wheat.