ADMIS News
COCOA
Cocoa finished last week by breaking a 3-session losing streak, but that was not enough to avoid a negative close for the week. If global risk sentiment remains sluggish, cocoa is likely to remain on the defensive.
COFFEE
Coffee prices had a downbeat finish to last week’s trading as the market was unable to climb above Tuesday’s high. For the week, however, July coffee finished with a gain of 5.10 cents (up 3.5%) which was a sixth positive weekly result over the past 7 weeks.
COTTON
Overflow selling from grain markets helped to pressure the market overnight. December cotton closed higher on Friday but well off the highs of the day. Recent rainfall in Texas has eased concerns about dry conditions in west Texas, and the 6-10 and 8-14-day forecasts call for normal to above normal rainfall in the region.
SUGAR
After 2 days of tight coiling price action, sugar has broken out to the downside and is more than 1.50 cents below the May 12th multi-year high. Although it continues to be pressured by key outside markets, sugar has a bullish supply outlook that can help to underpin prices. For the week, July sugar finished with a loss of 29 ticks (down 1.7%) which was a second negative weekly result in a row following a 5-week winning streak.
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