Cocoa May '15 (CCK15)
Cocoa Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Monday closed up +69 (+1.83%), and July ICE London cocoa #7 (CAN26) closed up +58 (+2.00%). Â Cocoa prices settled higher on Monday as short covering emerged after cocoa farmers in the Ivory Coast reported that heavy rain and winds had blown away young flower buds and damaged cocoa trees.
An excessively short position by funds could exacerbate any short-covering rally in NY cocoa. Last Friday’s weekly Commitment of Traders (COT) report showed money managers boosted their short positions in NY cocoa by 2,963 in the week ended June 2 to 21,111 net short positions, the most in more than 3 years.Â
Last Friday, NY cocoa fell to a 2-week low, and London cocoa slid to a 1.5-week low amid rising inventories. ICE cocoa inventories rose to a 1.75-year high of 2,929,074 bags on Friday.
The downside to cocoa losses over the medium term may be limited amid mounting weather concerns. The formation of an El Niño weather pattern could lead to warmer, d... Read more
Barchart · Tue Jun 9, 7:19AM CDT
Cotton price action is down 2 to 30 points so far on Tuesday morning. Futures posted mixed trade of 36 points lower to 13 points higher across most contracts...
Barchart · Mon Jun 8, 4:52PM CDT
Cotton futures posted mixed trade of 36 points lower to 13 points higher across most contracts on Monday. The US dollar index was down $0.101 at $99.95....
Barchart · Mon Jun 8, 1:23PM CDT
July NY world sugar #11 (SBN26 ) on Monday closed down -0.02 (-0.14%), and Aug London ICE white sugar #5 (SWQ26 ) closed down -1.80 (-0.40%). Sugar prices...
Barchart · Mon Jun 8, 1:22PM CDT
July ICE NY cocoa (CCN26 ) on Monday closed up +69 (+1.83%), and July ICE London cocoa #7 (CAN26 ) closed up +58 (+2.00%). Cocoa prices settled higher...
Barchart · Mon Jun 8, 1:21PM CDT
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