ADMIS News
COCOA
Cocoa’s demand outlook should remain on a longer-term upswing, but near-term prospects have been hurt by shipping container shortages and production limitations. This may not improve until early next year, and that could keep the cocoa market on the defensive. December cocoa was unable to shake off early pressure as it reached a 1-week low before finishing Friday’s trading session with a moderate loss.
COFFEE
Coffee continues to see choppy price action, but has been able to rise nearly 30 cents in value (up 17%) from an early August low. With the market unable to get past several supply issues, coffee should extend its longer-term uptrend during November. For the week, December coffee finished with a gain of 4.10 cents (up 2.1%) which was a fourth positive weekly result over the past 6 weeks.
COTTON
The market remains in a strong bull trend. December cotton closed sharply higher for the second day in a row on Friday, trading to its highest level since it put in its contract high on October 8.
SUGAR
Sugar prices lost upside momentum late last week, but held within a fairly tight trading range. With open interest starting to increase after reaching a 2021 low, sugar is showing more signs that it may be done correcting and can sustain upside momentum.
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