Most-active Mar-22 NY cocoa futures continued a five-session slide on Thursday, Jan. 22, settling at a five-week low. The contract approached the lower Bollinger Band both Wednesday and Thursday.
In the week of Dec. 27, managed money added to long positions and trimmed shorts. This left managed money net short for the fifth-straight week. Total managed money positions were down 13 percent from a month prior but still up by 21 percent YOY.
Mar-22 London cocoa traded lower in three of the four last sessions, following an inside session Wednesday with a drop to the lower Bollinger Band Thursday, also reaching a five-week low.
Through Dec. 26, Ivory Coast cocoa arrivals were estimated near 1 MMT, down nearly 6 percent YOY. Per Reuters, estimated arrivals in the week ending Dec. 26 totaled nearly 80,000 MT, up from 66,000 MT a year prior.
Leave A Comment