LONDON (Commodity Online): Agricultural commodities traded in a choppy fashion in the past week, driven by macrorelated uncertainties. By the end of the week, grains prices were pressured by disappointing weekly US export sales figures and intensifying concerns surrounding Italy despite a fairly strong WASDE report, said Barclays Research in a snippet.

US Corn export sales were weak at 252 Kt, a five-month low and Wheat export sales remained poor at 298.4 KT which is unsurprising keeping in mind the competitive pricing of Black Sea wheat exports. In contrast, soybean export sales rebounded from the previous week’s four-month low.

Soybean prices fell to a one-month low towards the end of the week pressured by rapid planting progress in South America and reduced China import demand. Across the soft commodities, investors remained cautious, prompted by the turmoil in Europe.

 ICE Cocoa prices slumped to a two-year low at $ 2500/t, pressured by increased flow of main crop cocoa out of West Africa, combined with broad-based weakness in commodity markets.

Meanwhile, Cotton was the strongest performer across the complex, supported by China Customs data that showed China’s cotton imports in October to have surged 163% from the same period last year to 252.3 Kt.

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