ADMIS News
COCOA
From last Wednesday’s close, cocoa price have lost nearly 150 points in value (down 5.6%) as post-earnings comments from the major US chocolate maker Hershey indicated that they were unable to fully meet increasing demand due to supply chain bottlenecks and capacity constraints.
COFFEE
Coffee prices continue to have trouble maintaining upside momentum, but they are finding underlying support from bullish supply factors. With positive global risk sentiment improving the near-term demand outlook, coffee remains on-course for a retest of their mid-October highs.
COTTON
December cotton closed sharply lower on the session yesterday, and the key reversal from an extremely overbought level and after hitting a key upside swing target suggests a short-term peak is in place. US export sales have been active, but world production has staged a significant comeback this year, but so has demand.
SUGAR
Sugar prices have started November with a positive tone and are lifting further away from their mid-October lows. As long as global risk sentiment and key outside markets continue to improve, sugar can extend this week’s recovery move. A pullback in crude oil prices weighed on the sugar market early in the day as that could weaken ethanol demand in Brazil and India.
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