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World: Cocoa and cotton give new impetus and open high in New York

Published Jul 22, 2024

Tridge summary

Cocoa prices on the New York Stock Exchange have increased by 3.68% to US$7,993 per ton, despite a drop in almond prices. The market is keeping a close eye on the climate and is experiencing stability in cocoa prices above US$7,000 per ton. Coffee prices have seen a slight decrease of 0.08%, but field work in Brazil is helping maintain stability. Demerara sugar prices have dropped by 1.66%, while frozen concentrated orange juice contracts have fallen 1.26% due to heated demand and low supply. Cotton prices have increased by 0.71%, and market analysts believe that the nomination of Kamala Harris as the Democratic Party's candidate for re-election could impact negotiations and the exchange rate of the dollar.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The prices of cocoa lots for September registered a stronger increase of 3.68% this morning on the New York Stock Exchange. The price is at US$7,993 per ton, which reflects, albeit slightly, the increase in negotiations this Monday (7/22). Despite the significant drop in almonds last Friday due to crushing data projected at 104.8 thousand tons in the second quarter, an increase of 2.23% compared to the same period in 2023, according to the National Confectioners Association (NCA , in its acronym in English), cocoa reacts in the market and maintains levels above US$7,000 per ton. The climate is still a fundamental that the market is paying attention to. In an expected up and down movement, coffee opens the trading session with some stability, and a drop of 0.08% for securities traded for September, which are quoted at US$ 2.3790 per pound. One of the reasons is the continuation of field work in Brazil, which exceeds 74% of harvest completed by Friday, according to Safras & Mercado. ...
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