ADMIS News
COCOA
Cocoa prices have returned to bargain price levels and have a longer-term demand outlook that will improve dramatically when COVID restriction are relaxed in many developed global economies. Until that occurs, however, weakness in key outside markets may keep cocoa on the defensive.
COFFEE
Coffee prices have been able to put some brakes on its near-term pullback and remain in close proximity to last Thursday’s 17-month high. While sluggish global risk sentiment may put near-term demand prospects in doubt, coffee has a bullish supply outlook that can help the market sustain upside momentum.
COTTON
December cotton closed slightly lower yesterday as it continued its consolidation of the past week. Reports of more rains in Texas Monday night added pressure to the market. Recent rains have eased drought concerns, and the crop may have avoided a “disaster.”
SUGAR
Sugar has seen volatile price action since reaching a multi-year high last week, but the market remains near the top end of a more than 1-year long uptrend. While there are increasing demand concerns from the world’s top consuming nation, sugar has bullish supply factors and carryover support from key outside markets that can lift prices towards new high ground.
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