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Softs Futures Prices

Mon, Nov 23rd, 2020
[[ timeframe ]] futures price quotes as of Mon, Nov 23rd, 2020.
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[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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  • Cotton Weekly Forecast

    This/Next Week Forecast (November 23 – 27, 2020)Uptrend scenario The uptrend may be expected to continue, while market is trading above support...

  • Sugar Weekly Forecast

    This/Next Week Forecast (November 23 – 27, 2020)Uptrend scenario The uptrend may be expected to continue, while market is trading above support...

  • Cocoa Weekly Forecast

    This/Next Week Forecast (November 23 – 27, 2020)Uptrend scenario The uptrend may be expected to continue, while market is trading above support...

Futures Market News and Commentary

NY Cocoa Closes at a 9-1/2 Month High on Continued Support from Hershey's Purchase of ICE NY Cocoa Inventories

Mar ICE NY cocoa (CCH21) on Monday closed up +41 (+1.51%). ICE London cocoa #7 (CAH210) closed up +19 (+1.05%).

March NY cocoa prices on Monday extended their week-long surge to a new contract high, and nearest-futures (Dec 20) cocoa rallied to a 9-1/2 month high. London Mar cocoa posted a new 1-3/4 month high. Cocoa prices continue to climb on last week's news that Hershey, one of the top chocolate makers in the world, bought cocoa beans via ICE NY cocoa futures inventories instead of purchasing them directly in the physical market. Those purchases sent December NY cocoa futures to a record premium over the March contract. Hershey is buying the ICE inventories in an attempt to circumvent paying the living-income differential (LID) $400-a-ton premium Ivory Coast and Ghana added to their beans to boost farmer incomes. Hershey's maneuver may prompt other cocoa users to do the same, which could push cocoa futures prices even higher.

Hershey's recent purc... Read more

Coffee Prices Settle Lower Due to a Rebound in ICE Inventories and Weakness in Brazilian Real

Mar arabica coffee (KCH21) on Monday closed down -1.00 (-0.85%), and Jan ICE Robusta coffee (RMF21) closed down -8 (-0.58%).

Coffee prices on Monday posted moderate losses. Coffee prices saw pressure on increasing supplies as ICE-monitored arabica coffee inventories on Monday rose to a 2-3/4 month high of 1.237 mln bags, recovering further from the 20-year low of 1.096 mln bags posted on Oct 5. Also, ICE-monitored robusta coffee inventories climbed to a 6-1/2 month high last Thursday, rebounding from the 1-3/4 year low of 10,808 lots posted on Oct 14.

Weakness in the Brazilian real is another bearish factor for arabica coffee, as the real fell -0.91% on Monday to a 1-week low against the dollar. The weaker real encourages export selling from Brazil's coffee producers.

Also weighing on coffee prices was last Friday's report from the USDA's Foreign Agricultural Service (FAS) forecasting that Brazil's 2020/21 coffee production would climb +14.... Read more

Sugar Prices Erase an Early Rally and Close Lower on Weakness in the Brazilian Real

Mar NY world sugar #11 (SBH21) on Monday closed down -0.06 (-0.39%), and Mar London white sugar #5 (SWH21) closed down -1.80 (-0.44%).

Sugar prices on Monday gave up an early advance and closed lower. Sugar prices on Monday initially opened higher on continued dry conditions in Brazil. However, sugar gave up its gains and turned lower on weakness in the Brazilian real, which fell -0.91% to a 1-week low against the dollar on Monday. The weaker real encourages export selling by Brazil's sugar producers.

Sugar prices have trended higher over the past six weeks up to a 9-month high last Tuesday on concern that Brazil's dry conditions may curb sugarcane yields and reduce Brazil's sugar production. Irregular rain in Brazil's sugar-growing areas is keeping soil moisture levels below normal. Maxar recently said that Brazil's sugar-growing regions had received only 5%-25% of average rain in the past few months, leaving crops "extremely dry." Also, a La Nina w... Read more

Cotton Shooting Higher on Monday

Cotton futures are sharply higher on Monday, front month futures hitting an 18-month high of 72.70 earlier on the session. Today is first notice day for December cotton futures. USDA will release updated harvest progress later this afternoon. The Commitment of Traders report from CFTC showed a 1,529 contract reduction to managed money’s net long position. Cotton specs were 57,565 contracts net long on 11/17 The Cotlook A index was down 25 points to 77.90 c/lb as of November 20. The AWP for cotton is 56.84 cents/lb.

DEC 20 Cotton is at 72, up 112 points,MAR 21 Cotton is at 73.85, up 89 pointsMAY 21 Cotton is at 74.69, up 90 pointsJUL 21 Cotton is at 75.29, up 89 points

--- provided by Brugler Marketing & Management 

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