Cocoa futures have been a little choppy but overall a solid bullish market. We’ve seen prices moving in a downward channel since the highs on February 7^th highs but when pulling back to look at a bigger picture it appears to be nothing more than a bull flag. For the most part this market is supported by strong fundamentals with supply concerns related to weather induced production issues; but is subject to volatility on fluctuating demand concerns especially out of Asia. If we can see some sustained positive prospects that Chinese efforts to control the virus and support its economy is effective, we can reasonably expect to see cocoa prices climb up past 2900 and beyond.