Sugar swung between gains and losses after touching a one-week low as investors weighed reduced output in the main growing region of Brazil, the world’s top grower, and a weakening real. Coffee advanced.
Sugar output in Brazil’s center south, the biggest global producer’s main growing region, will be lower than previously forecast after rains in May and June reduced yields, according to Usina Alta Mogiana SA.
Schibsted ASA, Norway’s biggest media group, rose the most in three weeks in Oslo after agreeing to an expansion of operations in South America and Asia with Telenor ASA, the Nordic region’s biggest phone company.
Emirates Telecommunications Corp., the Abu Dhabi-based phone operator, agreed to extend talks with Vivendi SA on a planned purchase of the French company’s stake in Maroc Telecom SA for 4.2 billion euros ($5.7 billion).
Wheat futures in Chicago probably will rally 7.6 percent in the next month after closing above the 100-day moving average twice last week, according to a technical analysis by Toay Commodity Futures Group LLC.