ADMIS News
COCOA
Cocoa finished last week by breaking a 3-session losing streak, but that was not enough to avoid a negative close for the week. If global risk sentiment remains sluggish, cocoa is likely to remain on the defensive.
COFFEE
Coffee prices had a downbeat finish to last week’s trading as the market was unable to climb above Tuesday’s high. For the week, however, July coffee finished with a gain of 5.10 cents (up 3.5%) which was a sixth positive weekly result over the past 7 weeks.
COTTON
Overflow selling from grain markets helped to pressure the market overnight. December cotton closed higher on Friday but well off the highs of the day. Recent rainfall in Texas has eased concerns about dry conditions in west Texas, and the 6-10 and 8-14-day forecasts call for normal to above normal rainfall in the region.
SUGAR
After 2 days of tight coiling price action, sugar has broken out to the downside and is more than 1.50 cents below the May 12th multi-year high. Although it continues to be pressured by key outside markets, sugar has a bullish supply outlook that can help to underpin prices. For the week, July sugar finished with a loss of 29 ticks (down 1.7%) which was a second negative weekly result in a row following a 5-week winning streak.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
