ADMIS News
COCOA
After a sluggish finish to July, cocoa prices have held their ground around price levels that provided support during the first half of this year. With a positive longer-term demand outlook providing support, cocoa may be able to extend a recovery move.
COFFEE
While coffee prices have fallen more than 40 cents below last Monday’s highs, the market is showing early signs that it is approaching a near-term low. As the extent of damage from last month’s Brazilian frosts continues to rise, coffee prices may find commercial support.
COTTON
December cotton still looks vulnerable to a significant corrective break as the outlook for higher production and steady demand leaves a bearish tilt for the August USDA key reports. Open interest is high, and this is a sign that buyers have been active since late June.
SUGAR
Sugar prices have found their footing following a negative weekly key reversal and remain well above their mid-July lows. Although key outside markets have seen inconsistent action over the past few weeks, sugar should be underpinned by bullish Brazilian supply developments.
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