|
|
Article: The story of the three bears.(coffee, cocoa, sugar futures)(Statistical Data Included)
- Article from:
- Futures (Cedar Falls, IA)
- Article date:
- December 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 Summit Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Ample supplies and lackadaisical demand don't project a happy ending to the tale of the softs markets for either bears or bulls.
Once upon a time there were three bears: Coffee, cocoa and sugar.
Coffee was just too hot for most traders when it did decide to move. After sinking to its lowest point since 1993 in early July, coffee suddenly spiked up 10[cent] a pound or more for several days in July on reports of potential frost damage to the crop in Brazil. Then the gains evaporated just as quickly as prices skidded to even lower levels below 75[cent] a pound. With each cent worth $375, daily moves of $5,000 or $6,000 per contract and an initial margin of ...