ADMIS News
COCOA
Cocoa’s whipsaw action during the month of July so far has resulted in 3 price moves that were each more than 140 points or larger. With near-term demand concerns remaining as a front-and-center issue for the market, cocoa is likely to remain on the defensive.
COFFEE
As weather concerns were eased, coffee saw a sharp change in tone that broke a 3-session winning streak. The market remains above its 50-day moving average and well above its recent lows, however, as a still-bullish global supply outlook should provide underlying support.
COTTON
December cotton traded to a high just under 90.00 for four sessions in a row before collapsing to trade sharply lower on the session yesterday. The selling drove the market down to the lowest level since July 8.
SUGAR
While sugar prices gave back most of their gains from the Thursday/Friday rally, the market is holding its ground above the mid-July low and its mid-June lows. If global risk sentiment and key outside markets can regain some strength, sugar prices may be close to finding a near-term floor.
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