Reuters - Arabica coffee prices at 2-1/2-month high as shorts cover

July 28, 2017 3:11PM CDT

A focus on largest global sugar importer India's imports after the country raised its import tax pressured prices, said Peter Mooses, senior market strategist for RJO Futures in Chicago.

"Expectations that the global sugar market will lift into a surplus for the 2017-18 season limited prices," Mooses added.

Cocoa prices extended gains on worries that rains in the top-growing region West Africa may have caused damage to the current crop, Mooses said.

"If we don't see heat to dry out the crop, it'll probably carry through and continue with the rally," Mooses said.


To read the rest of the article with Peter's comments, click here.

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that RJO Futures believes to be reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.

Distribution in some jurisdictions may be prohibited or restricted by law. Persons in possession of this communication indirectly should inform themselves about and observe any such prohibition or restrictions. To the extent that you have received this communication indirectly and solicitations are prohibited in your jurisdiction with registration, the market commentary in this communication should not be considered a solicitation.