Losing streak continues, the Cocoa future lost $36 to $2,867 adding to its five consecutive days of drops

Cocoa is down to $2,867 per metric tonne, after ending today at $2,903. Overall, a 1.24% loss or $36 today.

CME Cocoa is currently trading at $2,867 following the release of FOMC Meeting Minutes data from the United States.

On the flip side, United States Crude Oil Inventories beat analyst expectations of -583,000 and the previous reading of -3.74 million with new data of 597,000.

Amid the market gloom, United States Consumer Price Index released today at 12:30 UTC with a figure of 0.1%, while the previous figure was 0.4%. United States Consumer Price Index came out at 5%, while a consensus of analysts was expecting 5.2%.

Taking a look at other Softs commodities, negative performances are evident as after ending today's session at $23.68, Sugar lost 35 cents and is trading around $23.33. Cotton is down to $82.37, losing 54 cents, after closing at $82.91 in the preceding trading session.

Looking ahead, ongoing depreciation may be prolonged as United States Initial Jobless Claims projected to decline to 232,000 while previous data was 228,000; data will be released tomorrow at 12:30 UTC.

Moreover, United States Producer Price Index is projected to outperform its last figure with 0.1%. It previously stood at -0.1%; data will be released tomorrow at 12:30 UTC.

The commodity has been trending positively for about 29 days. Cocoa is now trading 31.27% above the significant low ($2,211.5) it slumped to 6 months ago.