Noticias cacao 07 julio

DJ ICE Cocoa Review: Modest Gains On Commodity Strength
DOW JONES NEWSWIRES


Cocoa futures rose Wednesday, supported by gains in the overall commodity
sector, though prices were confined to a sideways trading range.

Most active September cocoa added $14, or 0.47%, to settle at $2,981 a ton
on ICE Futures U.S. in New York.

Thinly traded July, which expires next week, rose $3, or 0.10%, to $2,941 a
ton.

Firm equity markets and gains in the commodity indexes encouraged speculative
buying in cocoa.

A lack of fresh fundamental news, however, kept the market in ranges.

"There really doesn't seem to be that much news, and right now we're trading
in a little bit of a range here," said Jack Scoville, analyst and vice
president of Price Futures Group in Chicago.

September cocoa, aside from a few spikes higher, has essentially been
confined to a range from $2,900 up to $3,000 a ton for several weeks.

Supplies of cocoa on the world market are tight as Ivory Coast, the largest
producer, is between crops. Producers are harvesting the much smaller mid-crop,
while the larger main crop harvest won't begin until October.

Scattered showers and thunderstorms in Ivory Coast and Ghana are providing
favorable moisture for the cocoa pods, but they also increase the risk of
disease, forecasters at DTN Meteorlogix said.

Too much rain and not enough sunshine can lead to moldy beans and create
disease issues for the crop.

The rainfall has also cut down on the harvesting and transportation of beans.

The arrival of Brazilian cocoa beans to the ports from the farms dipped to
63,748 60-kilogram bags in the week through July 4, from 68,583 bags the week
prior, the Commercial Association of Bahia said.

The decline in arrivals was a surprise for the market and may have been
caused by farmers and small merchants withholding cocoa in expectation of
higher prices, said Thomas Hartmann, a market analyst at the association.

Others suggested the decline was due to farmers postponing the harvest after
a recent holiday period.

The Brazilian mid-crop harvest runs from May through September, while the
main crop runs from October through April.

Cocoa exports from the main Indonesian growing region of Sulawesi rose 33% in
June from May, an indication companies are gradually accepting a new export
tax. Still, exports in June were down 21% from the year-ago period as
plantations undergo a national replanting scheme aimed at increasing yields.

London cocoa also rose, supported by tight cocoa supplies and also by the
gains in New York. September cocoa traded on NYSE Euronext's Liffe added GBP9,
or 0.38%, to settle at GBP2,403 a ton.

Open interest in cocoa rose 1,473 to total 121,721 lots, ICE reported. A
total of 145 positions remained open in July ahead of its July 15 expiration.

Futures volume is pegged at 7,835 lots, with 1,024 calls and 554 put options
traded.

ICE Change Range
July $2,941 up $3 $2,941-$2,941
Sep $2,981 up $14 $2,940-$3,003
* ICE settlements in dollars per metric ton with intraday range.