Agriculture Markets Update – Wednesday, Sept. 15

Weekly New York World Raw Sugar Futures

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Weekly London White Sugar Futures

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Cocoa

New York and London closed lower last week on what was called speculative long liquidation. Trends are turning sideways to down on the daily charts and are mixed on the weekly charts. Ivory Coast has stopped selling for the next crop on fears of fewer supplies. World economies are starting to reopen after Covid and the open economies are giving demand the boost. The weather has had below-normal rains in West Africa and crop conditions are rated good for now but there is concern about the lack of rain. Some are forecasting less production in the coming year but the ICCO said that it expects a production surplus of 230,000 tons this year, from its previous estimate of 165,000 tons. Ivory Coast sources told wire services that the country has sold between 1.64 million and 1.66 million tons of Cocoa so far this season. This is considered a very big amount and there are concerns about Cocoa availability at origin moving forward.

Weekly New York Cocoa Futures

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Weekly London Cocoa Futures

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