ADMIS News
COCOA
While the cocoa market had a bumpy finish to the holiday-shortened week, it was able to post three positive daily results in a row. If global risk sentiment can retain a positive tone, cocoa can extend its recovery move.
COFFEE
While coffee was unable to extend its recovery move going into the holiday weekend, it has not settled below the 50-day moving average since mid-September. Although the market remains vulnerable to additional long liquidation, coffee has bullish supply factors and improving global demand to provide underlying support.
COTTON
The cotton market remains in a consolidation pattern since late November as the outside market forces have been mostly positive but political tensions with China continue to simmer over the US move to avoid cotton textiles from certain regions. The market has been able to close near the high end of the recent consolidation and up for a third week in a row.
SUGAR
While sugar’s recovery move ran out of steam going into the holiday weekend, it remained on-track for the first positive monthly result since August. If global markets continue to hold a “risk on” mood, sugar can regain and sustain upside momentum early this week.
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