ADMIS News
COCOA
Cocoa’s European demand concerns remain a front-and-center issue for the market as that region accounts for one-third of all global processing. The other major regions have a more positive outlook, however, and that has helped cocoa prices to find their footing early this week.
COFFEE
Coffee has seen coiling price action over the past week as the market has had trouble sustaining upside momentum. With a bullish supply outlook providing support, coffee should remain fairly well supported on near-term pullbacks.
COTTON
December cotton traded up to the highest level since March 18th this morning. The market still needs a close over key resistance at 83.95 to turn the charts bullish. Corn, soybeans and wheat traded to new contract highs, which should be supportive to cotton, which is in a battle for acreage.
SUGAR
Sugar prices have been able to maintain upside momentum, and have done so with little carryover support from its key outside markets. While an extended pullback in energy prices could become a source of pressure, sugar has bullish supply factors that can help it to sustain upside momentum.
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