ADMIS News
COCOA
Cocoa prices have been weighed down by Asian near-term demand concerns so far this week, and may continue to do so until risk anxiety in global markets from the Evergrande debt situation has been sharply reduced. Until that occurs, however, cocoa will remain vulnerable to further downside price action.
COFFEE
Coffee prices remain close to the bottom end of their September pullback, but they have held up comparatively well this week in spite of a negative shift in global risk sentiment. With bullish supply factors continuing to provide support, coffee should be able to regain and sustain upside momentum when risk appetites turn positive once again.
COTTON
With the improvement in outside market forces, December cotton managed to close moderately higher yesterday but recovered less than half of Monday’s steep losses. The dollar was slightly weaker, which lent some support to cotton. Mills were reportedly taking advantage of Monday’s losses to fix prices.
SUGAR
Sugar prices have had trouble sustaining upside momentum this month in spite energy prices close to multi-year highs. While Chinese debt concerns will shadow the market, sugar has a bullish global supply/demand outlook that should provide the market with underlying support.
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