Political unrest in Ivory Coast has added volatility to an already erratic market…. but there's a lot going in cocoa futures.
As the summer starts to come to an end, we look ahead to fall activities and holidays. Will the demand for cocoa be down due to Covid and classroom closures?
We may have seen the bottom in the September cocoa contract. The past few sessions have canceled each other out, one day up, one day down and so on.
As the world, especially in the United States, sees an increase in Covid-19 cases some commodity prices are weakening.
Cocoa futures have been one of the commodities has that been a good indicator of where people are at as far as getting back to normal
The equity markets have rallied, but softs haven’t followed.
As parts of the world re-opens and the global equity markets try to recover losses from the past few months, the “food” commodities are following the trend. Cocoa demand should grow as more locations find the new norm.
As cocoa futures continue to be range bound and ending some recent trading days nearly unchanged, traders will focus on the demand of soft.
Cocoa futures have some fundamental news this week that normally would be strong enough to move the contract.
The May cocoa futures contract uptick may be short-lived.