The cotton market bulls returned on a sizable drop in planted US acres as reported by USDA yesterday.
I think this is a bit of an overreaction relative to economies, virus-recession, and global supplies. But the bulls have the edge so far this week. I show alternate model scripts for the next 60-90 days.
The sugar market rallies on dryness in some global production regions, plus locusts in India. Traders monitor currency fluctuation.
The coffee market model has worked well. A new L2 uptrend. Rains can further delay harvest in some areas of Brazil. Low temps in some of Brazil raises frost concern. Brazil's currency is watched for clues of export pressure on the global market.
The cocoa model is working well. Price is in an expected downtrend on low demand related to the virus recession and large supplies.
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