Cocoa Jul '20 (CCN20)
Cocoa Futures Market News and Commentary
Dec ICE NY cocoa (CCZ20) this morning is down -39 (-1.61%). Dec ICE London cocoa #7 (CAZ20) is down -250 (-1.50%).
Cocoa prices this morning are weaker on continued global cocoa demand concerns, although they remain above last week's significant lows. Last Friday, London cocoa fell to a 2-1/2 month low, and NY cocoa last Thursday posted a 2-1/2 month low.
The Cocoa Association of Asia reported last Friday that Q3 Asia cocoa grindings tumbled -10% y/y to 202,665 MT, much weaker than expectations of -4.3% y/y. The National Confectioners Association last Thursday reported that Q3 North America cocoa grindings fell -4% y/y to 118,260 MT, the lowest for a Q3 in 12 years but a smaller decline than expectations of -5% y/y. The European Cocoa Association reported last Thursday that European Q3 cocoa processing fell -4.7% y/y to 345,739 MT, the lowest processing for a third-quarter in four years. The Malaysian Cocoa Board reported last Tuesday that Malaysia Q3 cocoa grindings s... Read more
- Livestock Report
Dec hogs only survivor, remainder of livestock crash and burn
- Looking for a Reversal on Cotton
Cotton is running into overhead resistance as it enters a seasonably weak period
- Cotton Weekly Forecast
The uptrend may be expected to continue in case the market rises above resistance level 71.80, which will be followed by reaching resistance level 75.40...
- Sugar Weekly Forecast
The uptrend may be expected to continue, while market is trading above support level 13.80, which will be followed by reaching resistance level 15.10 and...
- Cocoa Weekly Forecast
The uptrend may be expected to continue, while market is trading above support level 2410, which will be followed by reaching resistance level 2550 and...
- Coffee Weekly Forecast
An downtrend will start as soon, as the market drops below support level 104, which will be followed by moving down to support level 95