It was a poor month for agricultural commodity markets as the bear that is the US dollar continues to put downward pressure on prices. Coffee and sugar prices in particular fared poorly as the Brazilian real fell to its lowest level against the US currency in 11 years. Corn, wheat and soybean prices also tumbled as the strengthening dollar reduces the competitiveness of US exporters. But the dollar wasn’t the only factor weighing on prices in the past month, as further rains in Brazil improved the outlook for this year’s coffee harvest and the sugar cane crop.
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