Cocoa Mar '20 (CCH20)
Cocoa Futures Market News and Commentary
Mar ICE NY cocoa (CCH20) on Friday closed down -38 (-1.37%), and Mar ICE London cocoa #7 (CAH20) closed down -23 (-1.17%).
Cocoa prices closed lower on Friday on signs of ample supplies after the International Cocoa Association (ICCO) said that results of its latest survey showed that global 2018/19 cocoa ending stocks have risen +1.4% y/y to 1.538 MMT.
Cocoa prices were already on the defensive on signs of increased cocoa production in Ghana after the Ghana Cocoa Board on Thursday reported that it purchased 569,781 MT of cocoa from farmers during Oct 1- Jan 2, up +8.4% y/y.
Another negative factor for cocoa is concern that high cocoa prices may be undercutting chocolate demand. Barry Callebaut, the world's largest cocoa-product maker, reported Wednesday that global chocolate volume growth was flat in the Sep-Nov period.
Cocoa prices have trended higher over the past month and NY cocoa posted a 20-1/2 month high Wednesday and London cocoa posted a 1-3/4 m... Read more
- Time To Become Neutral Cotton
- Arabica Coffee (KC) Tries Halting Month Long Selloff Near Key 1.1 Level
Arabica Coffee (KC) firmed yesterday, forming the 1st green daily candle in 8 days. Significantly, KC is trying to reclaim the key 61.8% Fib retrace of...
- Livestock Report
Hogs strong, Cattle flops
- Softs Report 01/23/2020
COTTON General Comments: Cotton was sharply lower last week as there was no demand news from China. A catalyst for the recent rally has [...]
- Coffee Prices Jump Up
Mar 20 coffee futures jump up this morning and have seen nearly 2% gains at the time of writing. There looks to be firm support at about the 11000 price...
- Daily Grain & Cotton Commentary
Will corn be able to breakout above 392? Is this a buying opportunity in beans? Is the top in on wheat?