With 52-week highs in softs, just how high can they go?

Market Pulse: Feb. 7, 2011

This past week, March cotton opened at 16589 and closed at 16786. March coffee opened at 24550 and closed at 24930. March sugar opened at 3410 and closed at 3264. Cocoa opened at 3267 and closed at 3251. All of these markets are at 52-week highs. Looking at the weekly charts below, you will see that cotton’s high before 2010-2011 was 11720 in 1995 (low at 2820 in 2001). So we are now dealing with all-time highs in cotton’s 140-year price history. Sugar’s 35-year high is 66.00 reached in 1974 (low at 2.30 in 1980). Coffee’s 35-year high is 337.50, hit back in 1977 (low 41.50 in 2001). Cocoa’s high was hit in 1997 at 5379.2 (low 674.0 in 2000).

Proceed to Page 2 for the latest COT data...

Page 1 of 4 >>
comments powered by Disqus
Check out Futures Magazine - Polls on LockerDome on LockerDome