ADMIS News
COCOA
Cocoa has consolidated recent gains over the past few sessions as the market has received positive demand news. There are critical data points between today’s close and Friday’s open, however, and that may keep cocoa prices from a further advance.
COFFEE
Bullish supply developments continue to provide underlying support for the coffee market which remains in a short-term uptrend. Updated forecasts call for cooler temperatures over Brazilian Arabica growing areas during the middle of next week.
COTTON
The technical action remains bullish as the market managed to push to new contract highs. Strength in the grain markets, weakness in the US dollar and another new all-time high for the stock market were all seen as bullish factors.
SUGAR
Sugar prices continue to find pressure from key outside markets. With recent bearish supply news also weighing on the market, sugar could see a retest of its mid-June lows. A sharp selloff in crude oil and RBOB gasoline prices kept the sugar market on the defensive as that may weaken near-term Brazilian ethanol demand.
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