In my Q3 soft commodities report on Barchart, I highlighted the 6.55% rise in ICE FCOJ futures in Q3 and the 52.56% price increase over the first nine months of 2024. Nearby FCOJ futures prices settled Q3 at $4.6105 per pound after reaching a record high above the $5 per pound level. I concluded the quarterly report with general comments about the bullish price action in FCOJ and the other soft commodities, writing:
Soft commodities were the best-performing sector of the asset class in 2023, over the first nine months of 2024, and in Q4 2024. The higher prices rise, the greater the odds of corrections. However, the sector’s trend remains bullish in Q4 and beyond, and the trend is always your best friend.
