Risk-off mood drags Cocoa 0.56% lower

A quick look at yesterday: Cocoa ended yesterday at $3,000 per metric tonne following from closing Thursday at $3,017. Overall, this represents a loss of $17 or 0.56%.

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

Amid the market gloom, 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.

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

Though the Cocoa future has been dropping, other Softs have been performing better: Sugar went up by 2.34% yesterday, and closed at $25.41. Cotton is trading around $83.64 after ending yesterday's session at $80.12 (up 4.39% today).

Cocoa has fallen back around 1.76% from the significant high of $3,071 set 8 days ago.