Cocoa prices peaked at over $3,400 per tonne two years ago. By the time the market bottomed this past summer, prices had shed half their value - a justified bear market from both the supply and demand sides.
Intercontinental Exchange (ICE) Changes in supply and use for 2016/17 in both the United States and Mexico are made on the basis of full fiscal year data published by United States Department of Agriculture (USDA) in Sweetener Market Data and by El Comité Nacional para el Desarrollo Sustentable de la Caña de Azúcar (CONADESUCA) in their September National Balance Report.
Intercontinental Exchange (ICE) cotton futures fell over a percent on Tuesday weighed down by selling by funds ahead of the monthly world agricultural demand and supply estimates World Agricultural Supply and Demand Estimates (WASDE) data due later in the week.
intercontinental Exchange (NYSE) Robusta coffee futures on ICE fell to their lowest in more than one year on Wednesday as harvesting of a potentially larger crop in top grower Vietnam is set to gather pace this month.
Intercontinental Exchange (NYSE) Arabica coffee futures rose for the first time in four sessions on Wednesday as speculative short-covering helped prices climb off their lowest in nearly four months, while London cocoa extended losses on pressure from the stronger pound.
InterContinental Exchange (NYSE) December arabica coffee settled up 0.05 cent, or 0.04 percent, at $1.31 per lb, after reaching a two-week high of $1.3270 and technical resistance at the 50- and 100-day moving averages around $1.33.
Intercontinental Exchange (ICE) March raw sugar settled up 0.17 cent, or 1.2 percent, at 14.17 cents per lb, extending intraday gains to 14.27 after data showed top grower Brazil crushed less-than-expected amounts of cane in the second half of September.
Intercontinental Exchange (ICE) White sugar futures rose further on Thursday as speculators sought to cover shorts amid worries about a nearby supply crunch, while a weaker pound lifted London cocoa to its highest in nearly two months.