ADMIS News
COCOA
Cocoa’s last four closes have been within a 13-point range, as the market has been pressured by a “death cross” in which the 200-day moving average climbs back above the 50-day. Global risk sentiment remains positive going into year-end, however, and that should help underpin prices.
COFFEE
Coffee is having a downbeat finish to a very strong 2021, having twice failed to sustain a recovery move since reaching its highest level since 2011 in mid-December. The long-term supply outlook remains bullish, however. March coffee followed through on Friday’s pullback with another decline on Monday and was near unchanged overnight. Plenty of uncertainties but outside forces mixed this morning
COTTON
March cotton broke out of a week-long consolidation on Monday and traded to its highest level since November 29 in a sharp, range-up day. Overnight, the market traded in a narrow range near Monday’s high. The rebound in global risk sentiment has helped strengthen cotton’s demand outlook and fueled the uptrend. Holiday sales for apparel were sharply higher, and this added to the bullish tone.
SUGAR
The sugar market has been unable to regain the upside momentum that it showed last week, and it remains well below the early December high. Global risk sentiment and key outside markets continue to have a positive tone, which lends support to sugar. March sugar stayed in narrow range on Monday, finishing with a modest loss.
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