ADMIS News
COCOA
A positive tilt to the second quarter Asian grindings should support the short-term uptrend. Processing jumped 9% to 220,865 tons during April-June from 202,674 tons in the same period a year ago which is the highest ever for the second quarter.
COFFEE
While near-term demand concerns remain a source of pressure, the supply side continues to provide the coffee market with underlying support. While a 1% pullback in the Brazilian currency kept further gains in check, it was not enough to offset support from Brazilian supply-side developments.
COTTON
December cotton backed off from new contract highs and closed lower on the day, but only gave back about half of Wednesday’s gains. The trade was disappointed with the export sales report, which came in lower than recent weeks and weakness in the stock market did not help.
SUGAR
After 3 days of coiling action, sugar prices have broken out of their consolidation zone and are on-track for a positive weekly reversal. This has occurred in spite of a negative tone from key outside markets, which could lead to sugar seeing stronger upside momentum if there is a positive turnaround in global risk sentiment.
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