ADMIS News
COCOA
While the market remains vulnerable to additional long liquidation and profit-taking, cocoa is showing signs that a longer-term low may be in. Strength in European and US equity markets provided cocoa with carryover support as they helped to soothe near-term demand concerns from both regions.
COFFEE
Coffee has a bullish supply outlook from the world’s top producing nation and an improving global demand outlook, both of which should continue through the rest of this year. With a second sizable quarterly gain in a row, however, it did not take much to put the brakes on coffee’s late-September rally.
COTTON
When both of the world’s largest exporters are having trouble with poor weather into the harvest, buyers remain active. December cotton closed sharply higher again yesterday after trading to a new contract high for the third session in a row.
SUGAR
Sugar prices continue to have trouble sustaining upside momentum, but continue to hold their ground above the early September lows. While the market remains vulnerable to quarter-end/month-end profit-taking and additional long liquidation, sugar should find carryover support from key outside markets and remain fairly well supported.
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