Cocoa futures recovered 0.8% after hitting a one-month low, while arabica coffee tumbled 1.5% to its lowest level in more than a month as abundant supplies and weak demand expectations pressured agricultural commodities.
New York cocoa settled at $5,456 per ton despite concerns over a 4.3% contraction in the global chocolate market, while Brazil's October coffee exports could reach record levels.
Potential cocoa production declines in Ivory Coast and Ecuador could support prices longer term, but expanding coffee exports and elevated cocoa inventories may maintain near-term downside pressure.
CBOT corn futures rebounded on Wednesday, closing higher after hitting a four-month low during the trading session.
December corn (CZ26) gained 1-3/4 cents to $4.44-1/4 per bushel after touching $4.38-1/2, while rain disruptions slowed U.S. harvesting and farmer crop sales.
The technical rebound and reduced selling pressure could support further stabilization, although upcoming USDA export sales data may influence the next price move.
Bitcoin rebounded above $80,000, recovering its losses from the Binance hack as markets absorbed the U.S. midterm election results with limited disruption.
BTC climbed 3.5% to $80,500, while ETH gained nearly 6% to $2,433; crypto futures volume increased 27%, but open interest rose just 3%, suggesting limited new leverage.
Improved institutional custody infrastructure and continued market resilience could support Bitcoin's recovery, although holding the $76,000–$78,000 support zone and sustaining momentum above $80,000 remain key tests.
US private-sector employment increased by 86,000 in October, above the market expectation of 69,000 and unchanged from the revised September figure, according to ADP.
Hiring was led by services. Trade, transportation and utilities added 39,000 jobs, education and health services added 28,000, leisure and hospitality added 19,000, and financial activities added 15,000. Construction added 13,000 jobs.
Professional and business services cut 27,000 jobs, while natural resources and mining declined by 8,000 and information services by 2,000. Medium-sized employers added 33,000 jobs, large firms added 24,000, and small businesses added about 28,000.
ADP reported that job changers saw pay rise 4.8% year on year, while all workers' base pay rose 3.2% and total compensation rose 4.7%. The next major labor-market test is the October nonfarm payrolls report due Friday. Market expectations cited in the source are for 65,000 payroll additions, versus 29,000 in September, and an unemployment rate of 4.2%.