cocoa futures news

cocoa futures news

January 18th, 2018

London cocoa futures rose on Wednesday, lifted by a weaker pound and renewed concerns over unrest in top producer Ivory Coast.

The March London cocoa contract was up 22 pounds, or 1.2 percent, at 1,814 pounds a tonne by 1312 GMT.

Prices were supported by a weaker pound, which fell back after making its biggest one-day gain since at least 1998 in the previous session.

The market was also keeping a close watch on unrest in the Ivory Coast.

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Cocoa futures rise from multi-year lows

On December 20, 2016, in cocoa futures trading news report, by Infinity Trading
cocoa futures news

cocoa futures news

December 20th, 2016

Cocoa futures prices were boosted on Monday by news that speculators had increased further an already large short position, prompting some to expect there may be scope for a short-term rebound in prices. May New York cocoa was up $51, or 0.85 percent, at $2,257 a tonne at 1500 GMT. The second position has recovered some ground after dipping to a low of $2,144 a week ago, its weakest since July 2013.

Speculators boosted bearish bets on cocoa to a 4-1/2 year high in the week to Dec. 13, US Commodity Futures Trading Commission data showed on Friday. Dealers said the scope for further losses may also be limited after a prolonged slide, with the market on course to fall nearly 30 percent in 2016.

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cocoa options

cocoa options

December 9th, 2016

Cocoa futures dropped to the lowest level in three-and-a-half years, headed for a sixth session of losses as more predictions of a global surplus hit the market.

Cocoa for March dropped 2.2% to $2,223 a ton on the ICE Futures U.S. exchange, on track for its lowest close since July 10, 2013.

“More and more observers are seeing a sizeable oversupply,” Commerzbank said in a note.

Judith Ganes Chase, president of research firm J. Ganes Consulting, said traders should be cautious about assuming that big crops in cocoa will lead to oversupply. She said she anticipates demand will recover as processing margins improve under lower prices.

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