RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

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 7th 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.

Cocoa Mar ’20 Daily Chart
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Eric Scoles

Market Strategist
Eric entered the workforce during the summer of 2007 as an apprentice tradesman just before the big crash and recession which followed. The impact of which strongly inspired his interest in the financial industry and began him as a student of the markets. Eric worked throughout the following years developing strong communication skills and risk management practices in the aviation and marketing industries before ultimately getting licensed and turning his passion into a career as a market strategist with RJO Futures.
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