ADMIS News
COCOA
Cocoa prices have seen whipsaw price action over the past week, but they are holding their ground above the 3 major moving averages and have managed to extend their May recovery move. Near-term demand concerns are being offset by a positive longer-term demand outlook, and that can help cocoa prices maintain upside momentum.
COFFEE
Coffee prices have held within a tight trading range over the past few sessions as recent coiling action may be an early signal that a near-term low is in. With a bullish supply outlook already in place, improvement in global demand prospects can help coffee to trend higher.
COTTON
The turn back higher in grains and a more inflationary tilt to commodity markets might be seen as a bullish development overnight. December cotton closed higher on Monday, but never got out of the lower portion of Friday’s big range down. The market never traded lower on the day, but the daily range was low and narrow.
SUGAR
Since reaching a contract high last week, sugar prices have been on the defensive as bearish demand developments have weighed on prices. Sugar’s key outside markets have regained their strength, however, and that may help to fuel a recovery move.
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