Palladium advanced to the highest in more than two years as the U.S. threatened more sanctions against Russia, the world’s largest supplier of the metal used in pollution-control devices for cars. Gold fell.
Coffee futures rose to a 25-month high as concerns mounted that the global market will swing to a deficit after a drought in the first quarter ravaged crops in Brazil, the world’s biggest producer and exporter.
Wheat futures fell for the second straight day on higher inventories than forecast in the U.S., the world’s top exporter, with rain expected to boost crops in the Great Plains. Soybeans and corn dropped.
Orange-juice futures rose to a two- year high after the U.S. Department of Agriculture said that the crop in Florida, the world’s second-largest grower, will shrink to the lowest since 1985 amid crop disease.