Tough start for CME Cocoa this morning following 0.35% decline; now at $2,583 per metric tonne

Published: January 26 2023, 01:10 GMT+0

Tough start for CME Cocoa this morning following 0.35% decline; now at $2,583 per metric tonne

Cocoa is down to $2,583 per metric tonne, after ending yesterday at $2,592. Overall, a 0.35% loss or $9 today.

Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

Meanwhile, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Looking ahead, ongoing depreciation may be prolonged as today at 13:30 UTC data for United States Core Durable Goods Orders will be released, with an expected decline to -0.2% from the preceding figure of 0.1%.

Moreover, United States Pending Home Sales is projected to outperform its last figure with -0.9%. It previously stood at -4%; data will be released tomorrow at 15:00 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Dec) is scheduled for tomorrow at 13:30 UTC.

The past 3 months have been positive for the Cocoa future as it added 12.55% compared to its 3-month low of $2,211.5.

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