Weekly Ag Markets Update - Tuesday, Aug. 18

Weekly New York Arabica Coffee Futures

Weekly London Robusta Coffee Futures

Sugar: New York and London were higher. A potential vaccine for Coronavirus designed in Russia gave hopes for improved demand potential down the road. The daily charts show that Sugar is back in the recent trading range and is in the upper end of that range. Ideas are that there is plenty of Sugar for the world market. Getting the Sugar moved is becoming more difficult with the widespread Coronavirus outbreak in both Brazil and India. Brazil mills have shifted part of the crush to Sugar production due to less ethanol demand. India is thought to have a very big crop of Sugarcane this year but getting it into Sugar and into export position has become extremely difficult due to Coronavirus lockdowns. Thailand might have less this year due to reduced planted area and erratic rains during the monsoon season. There are reduced flows from rivers from China to hinder irrigation of the crops.

Weekly New York Raw Sugar Futures

Weekly London White Sugar Futures

Cocoa: New York closed higher and London closed lower. New York found fund selling after failing to hold new highs for the move at strong resistance areas on the charts. News that the West African harvest is now about over means less selling pressure from origin. There are a lot of demand worries as the Coronavirus is not going away and could be making a comeback in the US. Europe is still trying to open its markets again but the Coronavirus is still around and consumers are reluctant to buy. Harvest is now over for the main crop in West Africa and the results are very good. The reports from West Africa imply that a big harvest in the region. Ideas are that Southeast Asia also has good crops.

Weekly New York Cocoa Futures

Weekly London Cocoa Futures

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Disclaimer: Past results are not necessarily indicative of future results. Investing in futures can involve substantial risk of loss & is not suitable for everyone. Trading foreign exchange also ...

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