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Coffee Uptrend Intact on Tightening Supply

COCOA

In spite of stronger key outside markets, cocoa prices continue to slide further to the downside. While the market is well into “bargain” price territory given a bullish longer-term demand outlook, cocoa may remain on the defensive.

COFFEE

Coffee prices have been able to find their footing and regain mild upside momentum this week. With bullish developments on the supply and demand sides of the market, coffee may be heading for a retest of last week’s 2 1/2 month high.

COTTON

December cotton rallied sharply yesterday and traded to its highest level since October 15. It also closed at its highest level since October 7, which was one day before the market put in its most recent contract high.

SUGAR

While the market remains well below its September/October consolidation, sugar prices may be in position to find support soon. In addition to a positive shift in key outside markets, sugar has bullish supply developments that can help the market find a short-term floor.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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