Monsoon rains that drenched rubber plantations across India and Malaysia are diminishing a glut of supply for the first time in three years, just as record global car sales are boosting demand for tires.
Sugar output may exceed demand for a second year after farmers boosted planting as futures surged, pushing prices lower, Standard Chartered Bank said. That may lower costs for drinks makers like units of Coca-Cola Co.
Japan, the biggest corn buyer, may increase grain imports to guarantee food supplies after the nation’s strongest earthquake on record and a tsunami devastated the northeast coastal region, said Standard Chartered Plc.
The six-month bear market in palm may be ending as declining output in Malaysia curbs a record glut, with Sime Darby Bhd., the largest producer, forecasting a rally in the world’s most-used cooking oil.
Cargill Inc. said that its sugar business took delivery of almost 1 million metric tons of the commodity as part of transactions involving expiring contracts at ICE Futures U.S. and handled by a unit of JPMorgan Chase & Co.
Palm oil probably will drop this year after Asian producers boosted acreage and global oilseed supplies rose, said Dorab Mistry, a Godrej International Ltd. director who’s traded the commodity for more than 30 years. Prices fell, erasing this year’s gain.