Headlines

» UK lawmakers consider probe into transparency of mining firms  LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of ... » Analysis: Airline emissions deal may not come before EU deadline  (Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emiss ... » Analysis: Frontier Markets booming but risks mounting  NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near ze ... » Exclusive: South Africa's NUM seeks 15-60 percent wage rises from gold, coal producers  JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises o ... » German minister calls EU move on China solar 'grave mistake'  BERLIN (Reuters) - German Economy Minister Philipp Roesler said the European Commission made a "grav ... » Greece to sell Postbank, Proton in July, stress-test big banks  ATHENS (Reuters) - Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-Ju ... » Tesco clothing brand plans international expansion  LONDON (Reuters) - The clothing brand sold by Britain's biggest retailer Tesco said on Sunday it pla ... » Job market gains could lead Fed to taper QE3 early  (Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come ... » Bank of England's King sends message to successor Carney  LONDON (Reuters) - Bank of England Governor Mervyn King has urged successor Mark Carney not to bring ... » Bankia compensation qualms signal loss of faith in Spain's banks  MADRID (Reuters) - Many duped savers at Spanish lender Bankia are shunning a state-supervised compen ... » Kuwait replaces oil officials at KPC after $2.2 billion Dow payment  KUWAIT (Reuters) - State-run Kuwait Petroleum Company (KPC) appointed a new chief executive and susp ... » Independent Scotland open to Cyprus-style bank risks, says Britain  LONDON (Reuters) - An independent Scotland would have a vastly oversized financial sector that would ... » BoE governor King warns of euro risk to British recovery  LONDON (Reuters) - The single biggest risk to Britain's nascent economic recovery is continued euroz ... » US Airways plane makes unusual belly landing at Newark airport  NEWARK, New Jersey (Reuters) - A US Airways flight made an emergency landing on its belly at Newark ... » Switzerland close to deal in U.S. tax dispute: finance minister  ZURICH (Reuters) - Switzerland is on the brink of a deal to settle a long-running dispute with U.S. ... » New Xbox more than a game console for Microsoft  SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly ... » Google's wearable Glass gadget: cool or creepy?  SAN FRANCISCO (Reuters) - Google staged four discussions expounding on the finer points of its "Glas ... » LATAM Airlines to resume Argentina flights later Saturday  SANTIAGO (Reuters) - LATAM Airlines Group SA said on Saturday it will resume flights to, from and wi ... » Bernanke upbeat on innovation outlook in commencement address  WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday f ... » Alpine in talks with FCC on financing: CEO  VIENNA (Reuters) - Alpine, the Austrian unit of Spanish construction group FCC , will hold talks wit ... » Wall Street Week Ahead: Correction talk gets old as rally sails along  NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and po ... » China April housing inflation quickens to two year high  BEIJING (Reuters) - China's housing inflation accelerated to its fastest pace in April in two years, ... » Exclusive: EU cites Chinese telecoms Huawei and ZTE for trade violations  NEW YORK (Reuters) - Europe's top trade official for the first time late on Friday officially cited ... » China April home prices rise 4.9 percent: Reuters calculation  BEIJING (Reuters) - Average new home prices in China's 70 major cities rose 4.9 percent in April fro ... » Judge revives Dexia's mortgage lawsuit vs. JPMorgan  (Reuters) - A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of mi ... 
Traders Toolbar Symbol Lookup Currency Converter

Forums

Traders Community :: Forums :: Commodity Trading :: Food Prices :: Cocoa Price
 
<< Previous thread | Next thread >>
Cocoa eases on profit taking after hitting year-high
Moderators: traders, Design Pro, Jenn, billyaustindill
Author Post
Roddy Radar
Wed Jun 27 2007, 11:54AM

Registered Member #199
Joined: Tue May 06 2003, 09:39AM
Location: Houston, USA
Posts: 3249
 Cocoa eased as traders locked in profits with prices at sky high levels, while few were prepared to buy at elevated levels.

Cocoa futures on the Euronext Liffe exchange topped 1,100 stg, a key psychological level, both today and yesterday but failed to hold at those levels.

"The industry is not interested in these prices, it's looking for a deeper retracement," said a trader.

At 12.56 pm, September Cocoa was down at 1,094 stg a tonne on the Euronext Liffe against 1,099 stg at the close yesterday, having struck 1,102 stg earlier. Yesterday, cocoa rose to 1,104 stg, its highest price so far this year.

In the longer term, forecasts for a global deficit in the 2006/07 (September to October) season are likely to support cocoa prices, said traders.

The International Cocoa Organisation's latest forecast stands at a deficit of between 100,000 and 125,000 tonnes.

Source: AFX 27 Jun 2007

Radar Control! .... Always ON!
Back to top

Website
 

Jump:     Back to top
Syndicate this thread: rss 0.92 Syndicate this thread: rss 2.0 Syndicate this thread: RDF
Powered by e107 Forum System