Cocoa Futures Options Trading
CALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741
|
|
Cocoa Futures Options TradingCALL 1-888-456-8090 TO BEGIN TRADING TODAY!INTERNATIONAL INVESTORS CALL 1-541-773-5741 |
Cocoa Futures: Cocoa Climbs for Third Day on Speculation About Reduced Bean Inventories September 6th, 2010 Cocoa futures climbed for a third day in London on speculation that inventories will shrink before farmers can produce enough beans to satisfy demand for the chocolate ingredient. Cocoa stockpiles in warehouses monitored by ICE Futures U.S. in New York are at the lowest level since Jan. 19, according to the exchange. Prices have dropped 13 percent this year in London on forecasts for bigger harvests in West Africa, the world’s main producing region. “The supply the market wants/needs is of the higher- quality variety, which is in very short supply,” Shawn Hackett, president of Hackett Financial Advisors Inc. in Boynton Beach, Florida, said in a report dated yesterday. “Even if there was a massive investment boom in the cocoa industry today, the production response still would not show up for another three years.” Cocoa for delivery in September climbed 10 pounds, or 0.5 percent, to settle at 1,963 pounds ($3,024) a metric ton on NYSE Liffe in London. Trading in New York is closed today for the Labor Day holiday. Cocoa inventories in warehouses monitored by ICE may drop below 2.8 million bags by the end of the year, according to Hackett. Inventories were 3.46 million bags at the end of last week, exchange figures show. Grindings, an indication of demand, will climb to a record of about 3.75 million tons in the year ending Sept. 30, 2011, Hackett forecast. White, or refined, sugar for October delivery was little changed at $592.70 a ton on NYSE Liffe, paring a climb of as much as 0.5 percent. Robusta coffee for November delivery declined 1 percent to $1,623 a ton. - Claudia Carpenter in London at Bloomberg. Click here for your Free Cocoa Futures Trading eGuide |
|
 |