Risk-off mood drags CME Cocoa 0.56% lower

A quick look at yesterday: Cocoa decreases 0.56% to close at $3,000 per metric tonne yesterday.

Highly important Core Durable Goods Orders data from United States beat analyst expectations of 0% with a reading of -0.2%.

While price action maintains a negative bias, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 193,100, while the previous figure was 191,500.

The Cocoa future's value drop coincided with the fact that Coffee descends 1% yesterday and closed at $182.7.

Though Cocoa has been dropping, other Softs have been performing better: Sugar rallies 2.34% yesterday and closed at $24.83. Notably, Cotton rose 4.39% yesterday and closed at $80.12.

8 days ago the Cocoa future reached a significant high of $3,071 but has consequently lost 1.76% since then.