Cocoa: Trading Sideways Over 2017 Before Long-Term Uptrend
Commodities / Global / Wed 11 Jan, 2017
Short-Term Outlook (three-to-six months)
We now hold a neutral view on cocoa prices over the short term as we expect cocoa to bottom and trade sideways over H117 following a tumble in cocoa prices over H216 on the back of improved fundamentals and bearish sentiment. Although a good 2016/17 West African season will improve global supply over 2017