Wheat fell in Chicago on speculation improved crops in Europe, China and Russia will boost supplies. Corn and soybeans also declined.
Robusta coffee futures rose in London as farmers in Vietnam, the biggest grower of the variety, are hanging onto their beans to obtain better prices. Sugar gained.
Unprecedented natural gas reserves in Europe, record global grain output and the threat of mutual economic calamity from oil sanctions are cushioning commodity prices even as the Ukraine-Russia conflict spurs a gold rally.
Brent crude snapped a two-day decline on speculation that the conflict in Libya may persist and disrupt oil supplies to Europe.
"I cannot imagine at all that Russia has sold gold or would sell gold, unless its foreign-exchange reserve are depleted."
- Carsten Fritsch on Dec 19, 2014