Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Futures  >  Chicago Board Of Trade  >  CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1       

End-of-day quote. End-of-day quote  - 04/24
380.75 USc   +0.59%
04/24GRAIN HIGHLIGHT : Top Stories of the Day
DJ
04/23GRAIN HIGHLIGHT : Top Stories of the Day
DJ
04/23USDA CROP PROGR : Corn Progress-Apr 23
DJ
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

Weaker Dollar Boosts Coffee, Cocoa

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/02/2018 | 09:26pm CEST
  By Amrith Ramkumar 
 

A weaker dollar supported commodities prices broadly on the first trading day of 2018 and also lent a helping hand to coffee and cocoa.

Arabica coffee for March added 3.2% to $1.3020 a pound on the ICE Futures U.S. exchange, extending a recent rally, while cocoa for March climbed 2.3% to $1,936 a ton. The falling dollar makes commodities denominated in the U.S. currency cheaper for overseas buyers. The WSJ Dollar Index, which tracks the dollar against a basket of 16 other currencies, fell for the sixth-straight session Tuesday, declining 0.4%.

If the dollar extends its recent drop, "commodities prices in general are going to start looking a lot better here," said Jack Scoville, vice president at Price Futures Group. "That's definitely helping both these markets along."

Mr. Scoville added that investors covering short positions as a result of possible supply disruptions could be boosting prices. The latest Commodity Futures Trading Commission data released Friday showed speculative investors added to short positions in both commodities during the week ended Dec. 26.

Coffee prices fell 8% in 2017, while cocoa dropped 11%. Analysts have forecasted supply surpluses in both commodities for 2018.

In other markets Tuesday, March raw sugar added 1.1% to 15.33 cents a pound, March frozen-concentrated orange juice was down 0.2% at $1.3655 a pound, and March cotton fell 1.4% to 77.50 cents a pound.

Write to Amrith Ramkumar at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
NEW YORK COCOA 0.18% 2746 End-of-day quote.44.53%
US DOLLAR INDEX -0.23% 90.74 End-of-day quote.-1.21%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CORN FUTURES (ZC) - CBE (E
04/24GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/23GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/23USDA CROP PROGRESS : Corn Progress-Apr 23
DJ
04/20GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/19GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/19Corn, Soybean Futures Wobble Despite Strong Demand
DJ
04/18GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/17GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/16GRAIN HIGHLIGHTS : Top Stories of the Day
DJ
04/16USDA CROP PROGRESS : Corn Progress-Apr 16
DJ
More news
Chart CORN FUTURES (ZC) - CBE (E
Duration : Period :
CORN FUTURES (ZC) - CBE (E Technical Analysis Chart | 4-Traders
Technical analysis trends CORN FUTURES (ZC) - CBE (E
Short TermMid-TermLong Term
TrendsNeutralBullishBullish