April witnessed unprecedented weakness in the energy sector and in emerging market currencies. Agri commodities markets were infected by these factors and continued their downward trend. Meanwhile, the threat of supply chains disruptions largely eased, as agricultural activities avoided major port and border closures, and the price risks shifted to demand destruction. Looking ahead, the spring plantings in the US are proceeding well but have the potential to bring volatility. Please read our disclaimer here: https://www.rabobank.com/knowledge/disclaimer/011417272/disclaimer

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