Cotton closed a little lower on some speculative long liquidation to finish the week. Prices overall have been supported by very good demand as export sales have been well above 400,000 bales for the last couple of weeks.
Cocoa closed a little lower and appears to be having trouble extending the move higher. Traders are still looking for tight supplies and higher prices down the road.
Sugar was lower as big production ideas continue. Some are talking about dry weather in Brazil right now and that it could impact production of the next crop, but the market knows there is still a lot of sugar.
Coffee closed a little higher. Overall the market is in a trading range and could be forming a bottom. News of very small offers in the market kept futures from going much lower, but buying interest is thin.
Cotton closed lower in consolidation trading and despite a very strong weekly export sales report from USDA. There are chances that the improved demand can continue, but many will be willing to sell if the sales drop this week.
There is still too much sugar around the world market as many traders think the surplus production for this year could be over 4.0 million tons. Thai offers are strong and differentials are holding steady.
Cocoa closed higher in consolidation trading. However, price action overall remains weak. Supplies from West Africa have increased and the market has more Cocoa to work with for at least the short term.
Coffee closed lower on speculative selling tied to long liquidation. There is also debate on how much coffee is getting offered from Vietnam as exports there remain below year-ago levels.
Futures closed higher on follow-through buying from the higher than expected export sales for the previous week. There are chances that the improved demand can continue.
