With only two weeks before the end of the 2022/23 crop year, speculative funds specializing in commodities continue to add to long positions in cocoa. CFTC’s latest Commitment of Traders report showed that funds added 3,500 longs (futures only) to bring their net length [...]
At the end of trading Sep. 8, the Dec-23 NY cocoa contract closed at $3,654 per MT, $42 above Sep 7’s close and $40 above its session open. RSI is bearish at 67.4 percent, MACD moved from bearish to neutral, and the stochastic slightly [...]
At the end of trading on Aug. 17, the Dec-23 NY cocoa contract closed at $3,488 per MT, $91 above Aug. 14’s close and $22 above its session open. RSI is neutral at 52.5 percent, with MACD bearish and the stochastic bearish after coming [...]
At the end of trading on Aug. 9, the Dec-23 NY cocoa contract closed at $3,363 per MT, $134 lesser than Aug. 7’s close and $23 below its session open. RSI is neutral at 54.8 percent, with MACD bearish and the stochastic bearish but [...]
In July, the major reporting regions of the world released Q2 2023 grind results, that is the amount of cocoa beans processed and converted into semi-finished cocoa products (liquor, butter, and powder). The headline number showed that grinds were weak across the board with [...]
On Jun. 27, the Sep-23 NY cocoa contract closed at $3,258, the same as the previous day’s close but $2 below its open. Jun. 26’s session was a bounce back from the previous week’s sessions, which had the contract moving sideways and slipping. RSI [...]
After closing the week of Jun. 12 at a contract high of $3,262.50, most-active Sep-23 NY cocoa trailed lower the week of Jun. 19; on Jun. 23, the contract rested retracement and psychological support around $3,200 before settling at $3,203. RSI is strongly bearish, MACD [...]
Jul-23 NY cocoa found support midweek from above $3,010 to $3,000 but broke lower to settle May 26 at $2,991. Sep-23 NY cocoa broke support near $3,105 May 26, closing at $3,006. For both contracts, RSI and MACD remain neutral, while the stochastic is [...]
