Cotton Continues to Move Lower This Week
Prices for No. 2 cotton currently trading on the ICE (Intercontinental Exchange) are trading significantly lower than last week’s average.
Frozen concentrated orange juice (or FCOJ-A) futures this week were trading broadly lower compared to the levels a week ago.
As of July 11, 2017, cocoa futures trading in the United States and London were lower than the levels a week ago.
As of July 11, 2017, the near-month sugar futures for both the No. 11 and No. 5 contracts extended losses, continuing last week’s trend.
On July 11, 2017, coffee prices were broadly positive for both the Arabica variety traded in the United States and the Robusta variety traded in London.
Orange juice futures for the week ended June 30 reversed their trend in the last week to move higher on average for the whole week.
The overall prices for cotton moved higher for the week ended June 30 compared to levels during the previous week.
On June 30, the near-month sugar number 11 futures stood 5.2% higher at 13.7 cents from 12.8 cents on June 23.
On June 30, cocoa futures in the US stood 4% higher at $1,836 per metric ton from $1,769 per metric ton on June 23.
In the week ending June 30, Arabica and Robusta coffee prices rose week-over-week.
On Wednesday, Archer-Daniels-Midland (ADM), Bunge (BG), and Monsanto (MON) rose 1.7%, 0.56%, and 0.14%, respectively.
March wheat futures were trading near the crucial support level of $4.70 per bushel on March 10. Wheat prices traded near the month high on the day.
March wheat futures trading on the CBOT rose and closed at $4.63 per bushel on March 9, 2016. Wheat futures prices boosted the wheat export sentiments.
Soybean prices on the CBOT, for March expiry, rose and settled at $8.81 per bushel on March 10. Soybean futures received a boost from strong soybean oil exports.
March corn futures prices were trading above the crucial support of $3.60 on March 10, 2016. Corn prices rose for the fifth consecutive trading day by ~1%.
Corn futures on the CBOT, for March delivery, settled at $3.62 per bushel on March 10. Corn prices rose due to the USDA’s favorable Weekly Export Sales report.
China, the top soybean importer in the world, reported February 2016 imports of 4.5 million tons, a year-over-year rise of 6%.
Soybean futures prices were trading at the support level of 880 cents per bushel on March 9, 2016.
Soybean prices on CBOT (Chicago Board of Trade) for March expiry rose slightly by 0.28% and settled at $8.80 per bushel on March 9, 2016.
March 2016 wheat futures prices were near the crucial support of 465 cents per bushel on March 9, 2016.