cocoa futures brokers

cocoa futures brokers

February 15th, 2016

Cocoa futures are set to rally back past the $3,000-a-tonne level, broker VSA Capital said.

After rising through 2015, cocoa futures entered a sharp sell-off in 2016, with the front-month New York contract down more than 10% since the start of this year.

But VSA said that “the inherent structure of the industry lends itself to a general bullish environment over the coming years”.

“In the shorter-term, increasing El Nino-related concerns over the mid-crop […] in the two largest producers, Ivory Coast and Ghana, could certainly push the US benchmark cocoa price back through $3,000 a tonne, said Ed Hugo, of VSA Capital.  

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cocoa options

cocoa options

January 22nd, 2016

Cocoa markets rose, as some strong data on Asian grinding counteracted disappointment at data for North America showing an unexpectedly large drop in volumes.

Cocoa grinding, the processing of beans into butter and powder, is treated as a proxy for demand.

The Cocoa Association of Asia reported cocoa grinding in Malaysia, Singapore and Indonesia, the continent’s main processors, at 161,227 tonnes in the last three months of 2015, up 14% year-on-year.

This still leaves grinding down 2.8% over the full calendar year, at 597,452 tonnes.

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cocoa futures brokers

cocoa futures brokers

January 7th, 2016

Cocoa futures continued to plummet, amid volatile and high volume trading, amid ongoing uncertainty about West African production prospects.

Front-month cocoa futures fell nearly 3% in morning deals in New York, to $2,898 a tonne, extending gains this week nearly to 10% .

The selldown, which has taken prices 15% below a five-year high a month ago, contrasts with a strong performance by the bean last year, over which it was one of the few commodities to post gains.

Gains of 10% in New York over the year, and  of 14% in London, made it “the outstanding soft commodity in 2015,” Ecobank said.

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cocoa futures brokers

cocoa futures brokers

November 27th, 2015

Cocoa production outstripped demand last season, according to the International Cocoa Organisation, which previously saw a deficit in stocks.

And production in Ghana is forecast to recover this year, thanks to a government drive for improvements.

For the 2014-15 season, which recently came to an end in the key West African growing region, the ICCO saw global cocoa production outpacing supply by 36,000 tonnes, where it had previously seen a shortfall of 15,000 tonnes.

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cocoa futures news

cocoa futures news

April 16th, 2015

Cocoa futures rallied, following stronger-than-expected European first-quarter grind data – although a leading broker cautioned against investors getting carried away.

European cocoa grind, which is the volume of beans being processed into butter and powder, fell by 1.6% year-on-year to 337,706 tonnes in the January-to-March period.

That represented the weakest start to a year, in volume terms, since 2010.

However, the figure beat analyst expectations for grind volumes to fall by 3-7%, undermined by squeezed margins for processors

Cocoa futures rallied on the news to one-month highs of $2,885 a tonne in New York, and £1,976 a tonne in London, for May delivery.

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April 4th, 2012

Cocoa futures fell to the lowest since January on signs of improved crop prospects in Ivory Coast, the world’s top producer. Coffee dropped, and sugar gained.

Rainfall in Ivory Coast was “pretty much normal for late March and early April,” and the region will have more showers this week, bolstering the production potential, Paul Markert, a meteorologist at MDA Information Systems Inc. in Gaithersburg, Maryland, said in an e-mail yesterday. The commodity rose 5.2 percent in the first quarter on speculation that dry weather would trim the country’s yields.

There’s a “better outlook for Ivory Coast’s mid-crop,” that will be collected from April to September, Judy Ganes- Chase, the president of J. Ganes Consulting in Katonah, New York, said today in an e-mail. “Rains are spreading.”

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