ADMIS News
SUGAR
After a week of choppy price action, the sugar market is back to within striking distance of a new multi-year high. While carryover support from key outside markets may remain inconsistent, sugar has a bullish supply outlook that helped prices drive further into new high ground.
COCOA
Cocoa’s abrupt change in fortune has only recovered a portion of its 4-session/220 point pullback, but it has lifted prices well clear of Tuesday’s 6-month low. While the market is likely to see continued volatile action short-term, cocoa is showing signs that a longer-term low may be close at hand.
COFFEE
With coffee’s demand outlook improving, Brazil’s 2021/22 output decline has left the market with little room for additional supply-side issues. Colombia’s coffee federation has reported that coffee supplies have been blocked from reaching port facilities by protesters opposing a tax reform bill.
COTTON
December cotton closed moderately higher on the session yesterday as the market continued to consolidate inside last week’s range. The recent rains in West Texas have pulled some support from the market. Other parts of the cotton belt look good.
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