Insanely high prices!
https://tradingeconomics.com/commodity/cocoa
1. 1 month-almost straight up
2. 1 year-new record high, exceeding the April 2023 high
3. 10 years-recent price is around 6 times higher than what it was until 2023
4. 60 years-3 times higher now than what the previous record high was prior to 2024
Not only record high, today marked a range of 1100 points with a huge 450 point reversal.
Was today the TOP?
EXTREMELY difficult to trade.
Thanks, tjc!
Sure looks like a potential double top formation but could just be a technical response and traders taking profits.
1. 1 week
2. 1 year
https://tradingeconomics.com/commodity/cocoa
OJ is also at all time highs
both of these as the $ moves higher
Has there been any adverse weather in the Ivory Coast, Ghana, or Indonesia affecting production of cocoa? I’m wondering if this price increase may have been tradable in advance from a wx perspective.
I know many of the softs are traded on wx such as OJ, KC, CT, and sugar perhaps to a lesser extent. But I don’t recall Mike or anyone else here discussing wx related trades for cocoa.
I vaguely recall that Craig Solberg did make a few cocoa trading recommendations back when I was following him.
As a fellow weather trader, I was thinking the same thing, Larry.
However, I'm not sure where a good entry point would be with low risk. This one might have been a good options play. I never do options because most of them expire worthless but for sure this is mostly from weather and you are right on about that!
https://tradingeconomics.com/commodity/cocoa
https://chocolatephayanak.com/unkategorisiert/cocoa-production/
Last 30 days compared to average below
https://www.cpc.ncep.noaa.gov/products/Precip_Monitoring/Figures/global/n.30day.figb.gif
Last 90 days compared to average below
https://www.cpc.ncep.noaa.gov/products/Precip_Monitoring/Figures/global/n.90day.figb.gif
Last 180 days compared to average below
https://www.cpc.ncep.noaa.gov/products/Precip_Monitoring/Figures/global/n.180day.figb.gif
365 day anomaly below
https://www.cpc.ncep.noaa.gov/products/Global_Monsoons/gl_obs.shtml
Great point, cutworm!! Citrus greening disease!!!!
Dangerous time to trade/OJ
https://www.marketforum.com/forum/topic/107818/
++++++++++++++++
https://tradingeconomics.com/commodity/orange-juice
1. 1 year
2. 10 years
3. 50 years
CRB Index. Lower energy prices are 1 reason why we are not challenging the 2008 record highs. Grains/beans are also much lower than prices in recent years.
https://tradingeconomics.com/commodity/crb
Dollar has been increasing as cutworm noted and breaking out to the upside!
This usually puts downward pressure on US priced commodities.
https://www.tradingview.com/symbols/TVC-DXY/
https://www.investing.com/currencies/us-dollar-index-streaming-chart
The General Rules Might Be Changing
https://www.thebalancemoney.com/how-the-dollar-impacts-commodity-prices-809294
Previous dollar threads:
US Dollar
Started by metmike - Aug. 3, 2024, 6:08 p.m.
https://www.marketforum.com/forum/topic/106393/
China/France/US Dollar
Started by metmike - May 10, 2024, 8:39 a.m.
https://www.marketforum.com/forum/topic/103917/
By cutworm - April 12, 2024, 7:39 p.m.
to me it seems unusual that the $ index should be going up at the same time as gold. Is a dark swan event near at hand? I have absolutely no idea.
$
Started by cutworm - Nov. 7, 2023, 7:51 a.m.
https://www.marketforum.com/forum/topic/100392/
Old thread discussing the DX:
US Dollar DX
5 responses |
Started by metmike - July 27, 2020, 10:39 a.m.
https://www.marketforum.com/forum/topic/56847/
