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Tech Action Positive For Cocoa

COCOA

Cocoa prices have been weighed down by Asian near-term demand concerns so far this week, and may continue to do so until risk anxiety in global markets from the Evergrande debt situation has been sharply reduced. Until that occurs, however, cocoa will remain vulnerable to further downside price action.

COFFEE

Coffee prices remain close to the bottom end of their September pullback, but they have held up comparatively well this week in spite of a negative shift in global risk sentiment. With bullish supply factors continuing to provide support, coffee should be able to regain and sustain upside momentum when risk appetites turn positive once again.

COTTON

With the improvement in outside market forces, December cotton managed to close moderately higher yesterday but recovered less than half of Monday’s steep losses. The dollar was slightly weaker, which lent some support to cotton. Mills were reportedly taking advantage of Monday’s losses to fix prices.

SUGAR

Sugar prices have had trouble sustaining upside momentum this month in spite energy prices close to multi-year highs. While Chinese debt concerns will shadow the market, sugar has a bullish global supply/demand outlook that should provide the market with underlying support.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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