ECA reported Q4 2020 European grind at 344,151 MT, down half a percent from Q3 and down just 3.1 percent YOY from Q4 2019 grind of 355,201 MT. This follows last week’s announcements of Q4 2020 grind for Asia and North America, down 4.2 percent [...]
Commodity futures markets often exhibit what is known as carry structure or contango, which is the upward stairstep shape associated with the string of progressively later-dated futures contracts. Higher premiums are a function of the greater uncertainty that comes with time plus additional logistics, [...]
As a group, international observers have not been shy about their concerns over Ivory Coast’s political stability ahead of the country’s presidential election. Ivory Coast saw civil wars in 2002 and 2011, and now the question is whether a third civil war could be triggered [...]
The passing of Prime Minister Amadou Gon Coulibaly at age 61 heightens the volatility and uncertainty surrounding Ivory Coast’s presidential election in October. Gon Coulibaly was the presumed successor of the current ruling party and President Alassane Outtara—once Ouattara announced that he wouldn’t be [...]
After finding a market bottom in Q1 at $2,200 per MT, cocoa futures have been consolidating; a double bottom held, and prices rose by 10 percent. Although the fundamentals have been less inspiring with lackluster Q1 grind results, the market looks technically vulnerable to [...]
Cocoa futures surged nearby or above $2,800 MT to multiyear high after this week’s release of somewhat anemic Q4 grind numbers. Trade was waiting to see whether Q3’s grind numbers were a one-off or whether softness is continuing to creep into the cocoa demand. [...]
Cocoa futures have remained under pressure most of August as speculators fully liquidated their entire net long position and swung net short in CFTC commitments of traders reports these past two weeks. Specs may now be attempting to accumulate a short position and push [...]
Fund buying has dominated the cocoa futures market the past two weeks, sending prices to their highest level in months. Fundamentally speaking, there does not seem to be enough fuel to have sparked the $200 rally and keen interest coming from the speculative community. [...]
