ADMIS News
COCOA
Cocoa prices continue to face near-term demand concerns, but may find an improved outlook going into the second quarter. The market continues to receive bullish supply developments which can help cocoa maintain upside momentum.
COFFEE
While the market continues to have a bullish production outlook, a change in the flow of supply to major consuming nations may pressure coffee prices. A pullback in the Brazilian currency put carryover pressure on the coffee market as that may ease pressure on Brazil’s farmers to market their remaining near-term supply.
COTTON
May cotton traded to new contract high yesterday for the fifth time in the past seven sessions and traded to its highest level in a decade. The market is up this morning but still an inside trading day. The market is being driven higher by strong demand for old crop and concerns over dry conditions in Texas, but conditions are getting volatile.
SUGAR
Sugar prices were unable to extend a 3-session winning streak, but remain on-track for sizable monthly and quarterly gains. While this may leave the market vulnerable to a technical correction, sugar continues to find support from bullish supply/demand developments. A sharp selloff in energy prices put considerable carryover pressure on the sugar market as that may weaken near-term ethanol demand prospects.
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