ADMIS News
COCOA
Following a new contract high last Wednesday, December cocoa has fallen 114 points (down 4.2%) and posted 3 negative daily results in a row. Unless there is a significant rebound in global risk sentiment, cocoa is likely to remain on the defensive. For the week, December cocoa finished with a loss of 51 points (down 1.9%) which broke a 2-week winning streak and was also a negative weekly key reversal.
COFFEE
Coffee has been unable to sustain upside momentum since having a more than 43 cent pullback during late July and early August as it lost nearly 20% in value. The market continues to find its footing at increasingly higher price levels, however, and that can help coffee to regain upside momentum again.
COTTON
Choppy trade continues for the cotton market with a higher on Friday after trading to its lowest level since August 24. The USDA report was mixed. US production and stocks increased from last month and were much higher than expected, but world ending stocks decreased and came in lower than expected.
SUGAR
Sugar has been pressured by sluggish outside markets and bearish near-term supply factors as prices have fallen well below their August highs. This pullback should help to improve global demand prospects, so sugar may be closing in on a longer-term low.
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