Cocoa:
– September futures support at 7000, May low support at 6418
– Ivory Coast crop 22% behind 5-year average for this time
Coffee:
– September futures resistance at 238.70, upside objective at 261.30, support at 225.40
Cotton:
– US crop progress report showed 26% of crop in good-excellent condition, Texas was 49%
Grains:
– Acreage report estimate for Friday is 10.89m corn acres planted, 10.673m in March, 10.23m last year. Estimate is 3-400k fewer soybean acres
– July corn futures support at yesterday’s low of 443
– November soybean futures support at yesterday’s low of 1111 1/4
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