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Outside Markets Support Sugar


Cocoa has extended its downtrend more than 300 points below its late November high, but the market appears to have found its footing before it traded below its 50-day and 100-day moving averages. Near-term demand remains a concern, but the longer-term outlook is positive which can help support.


While demand remains an issue, a shift in focus towards upcoming production can help coffee prices remain in a short-term uptrend. A rebound in the Brazilian currency provided coffee with carryover support as that eases pressure on Brazil’s farmers to market their near-term supply to foreign customers.


March cotton closed sharply higher on the session yesterday with a big range-up day that took it to its highest level since early August 2018. The market remains on track for a test of the contract high at 79.51. The market reacted favorably to the weekly export sales report which came in strong for the second week in a row.


Sugar has extended its winning streak to 3 sessions and is on-course for a higher close this week. While key outside markets have been providing carryover support, sugar continues to see bearish supply developments that should limit further upside going into the weekend.

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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