ADMIS News
COCOA
July Cocoa edged lower early Thursday as found support at the 100-day moving average. The market has been drifting lower this week on reports of good growing weather in West Africa, both from the weather services and from interviews with growers in Ivory Coast. World Weather Inc. expects West-central Africa to see frequent “waves of rain” during the next two weeks, bringing timely rainfall to all cocoa production areas in the region. There have been no complaints of too much rain yet. Ivory Coast port arrivals were strong last week.
COFFEE
July Coffee was higher for the second day in a row on Thursday after reaching an 18-month low on Tuesday. The Brazilian harvest has been proceeding at a decent pace if a little bit behind a year ago, and an unseasonably rainy forecast over the next several day could slow harvest even more. Cooxupe, Brazil’s largest coffee co-operative, said on Wednesday that its farmers had harvested 12% of their 2026 crop as of June 5 versus the 13.7% reported at the same time last year.
COTTON
December Cotton was higher early Thursday after inching below Wednesday’s two-month lower earlier in the session. Traders have been noting the technically oversold condition this week, which could leave the market vulnerable to a rally if the USDA supply/report today comes in bullish against expectations. Trade expectations are leaning towards increases in production and ending stocks, as the rainfall pattern in the US has improved over the past month.
SUGAR
July Sugar was lower early Thursday after failing to hold support at the May 28 low on Wednesday. The crude oil market is not lending much support this week, failing to gain much ground despite increased military action between the US and Iran that threatens to end the cease-fire. Brazil is expected to push more of its cane crushing activity to ethanol and away from sugar, and higher energy costs support that likelihood, but reports that ethanol prices have weakened this month have undercut support for sugar.
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