Noticias cacao 02 julio

DJ ICE Cocoa Review: Falls On Pre-Holiday Profit-Taking
DOW JONES NEWSWIRES


Cocoa futures fell in pre-holiday trade, as prices consolidated and found
pressure from traders booking profits off of Thursday's highs.

Most active September cocoa fell $70, or 2.3%, to settle at $2,971 a metric
ton Friday on ICE Futures U.S. in New York. Thinly traded nearby July lost $48,
or 1.6%, to end at $2,921 a ton.

"A little light profit-taking in an environment like this will easily push
the market down," said Sterling Smith, analyst at Country Hedging in St. Paul.

Trading volumes were fairly light as ranks thinned before the long Fourth of July holiday weekend, he said.

The markets will be closed on Monday for the holiday and will reopen Tuesday
morning.

Cocoa futures also uncovered spillover selling linked to a weak equity market
and a mostly lower trade in the commodity indexes, a broker said.

Equities were pressured after news that U.S. payrolls in June fell by
125,000, slightly higher than expectations. The jobless rate edged down to
9.5%, from 9.7% in May, the Labor Department reported. Economists had actually
anticipated the jobless rate would rise slightly to 9.8%.

The payrolls news was further proof that the economy continues to struggle
and that a recovery will likely take longer than many economists had previously
thought.

Farmers in western Ivory Coast are harvesting cocoa pods, though overall
harvest levels are quite low as the country is essentially between crops. The
larger main-crop harvest won't begin until October.

The flow of cocoa typically declines until the main-crop harvest begins in
earnest.

Farmers in the main western growing belt are concerned over small beans and
high moisture, both leading to lower farmgate prices being paid.

Growers are worried that heavy and persistent rain in Nigeria's southeastern
Cross River state may lead to moldy beans. The combination of heavy rain and a
lack of sunshine are making growers anxious since beans can develop mold after
being stacked in poorly ventilated storage areas for two to three weeks.

London cocoa also fell, pressured in part by the losses in New York.

Open interest in cocoa fell 1,349 to total 119,238 lots, ICE reported. Just
145 positions remained open in July ahead of its July 15 expiration.

Futures volume is pegged at a modest 9,100 lots, with 703 calls and 148 put
options traded.

ICE Change Range
Jul $2,921 dn 48 2,921 - 2,969
Sep $2,971 dn 70 2,960 - 3,043
* ICE settlements in dollars per metric ton with intraday range.