ADMIS News
COCOA
Cocoa has not been able to sustain upside momentum since last November’s sharp rally, and has spent 2 months inside of a consolidation zone as near-term global demand concerns remain a major issue.
COFFEE
Coffee has seen wide price swings since the start of 2021, and the December/February consolidation has been a period of relative stability. Given the longer-term supply outlook, a rebound in demand should lift coffee prices well clear of the recent levels.
COTTON
March cotton traded to a new contract high Friday and again this morning. The nearby contract traded to its highest level since August 2018. This followed another strong week of export sales reported on Thursday and a bullish USDA supply/demand report on Tuesday.
SUGAR
Sugar prices remain on-track for a tenth monthly gain in a row as they continue to find support from an improving demand outlook and stronger energy prices. For the week, May sugar finished with a loss of 6 ticks (down 0.4%) which was a negative weekly key reversal.
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