A Year Later: Covid-19, Cocoa, And The Coming Months 
Anna Carpenter
Fri, 03/12/2021 – 13:25

Authors
Peter Mooses

Publication Date

Image
Cocoa Futures Update

Just about a year ago, the world braced itself for some unknown virus that was slowly disrupting the world as we knew it.

People who were feeling ill were being isolated and tested, businesses and offices began to send employees home until the situation was “under control,” and the National Basketball Association suspended play as its first player tested positive during live play. WHO had just declared Covid-19 a pandemic— at that point, the world knew it may be dealing with something it hadn’t seen in this lifetime. 

Now, the world is hopefully headed in a positive direction. Vaccines appear to be rolling out at a successful pace in some areas, and infection rates, hospitalizations, and death rates seem to be getting better during this process. 

As more of the population begins to accept the available vaccines, we’ll know more about the economic recovery, as well. Will the public follow procedures long enough to allow the progress made with vaccinations to work? Will the early reopening of certain states hurt the entire U.S. economy and recovery? Will spring break travel stall the positive data we’re receiving thus far as these potential super-spreader events take place? All of these unknowns will be answered over the next few months.

As for cocoa, a global economic recovery and reopening of businesses and events can only help the market. A soft commodity like cocoa is heavily reliant on demand, and demand for cocoa has slowed as people have changed their routines and purchasing habits. 

Some of the fundamentals for cocoa have stayed steady. Production concerns could help to stabilize prices and, with a little assistance from the demand side of the equation, May cocoa prices should head back above 2650. 

May Cocoa Daily Chart

Source: Tradingview

If you are interested in discussing the soft commodities, contact pmooses@rjofutures.com. 

Section
Market Analysis

Topic
Agriculture

Tags
Softs
Commodities
Cocoa
Agriculture
Technicals
Softs
Cotton futures
Cotton
commodities
RJO Futures
RJO

Site
FuturesMag

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.