Noticias cacao 13 julio

DJ ICE Cocoa Review: Higher; Commodity Strength, Weather
DOW JONES NEWSWIRES


Cocoa futures climbed to 1 1/2-week highs Tuesday on commodity strength, a
weak U.S. dollar and concerns over too much moisture in top grower Ivory Coast.

Most active September cocoa added $56, or 1.9%, to settle at $3,045 a metric
ton on ICE Futures U.S. in New York.

Thinly traded July rose $64, or 2.2%, to end at $3,026 a ton.

Much of cocoa's strength was attributed to speculative funds buying
commodities as traders added riskier commodity bets to their portfolios. A gain
of 1.5% in the Dow Jones Industrial Average also improved investors' moods and
encouraged buying, said James Cordier, analyst and president of Liberty Trading
Group in Tampa.

Gains in the commodity indexes reflect a sturdy appetite for commodities, he
said.

The dollar softened against the world's major currencies, providing a
supportive background for commodities. A weak dollar is normally bullish for
cocoa as it makes the commodity cheaper in other currencies.

Traders are also concerned about too much moisture in Western Africa, which
could lead to disease.

While scattered showers and thundershowers provide favorable moisture for the
cocoa pods, too much rain increases the chance of disease, said private
forecaster DTN Meteorlogix.

The risk is that if the rains do not subside and allow sunshine to dry the
pods, the moisture may increase disease pressure on the crop.

Ivory Coast declared 25,144 tons of cocoa for export in the 14 days to July
7, down 4.5% from the comparable year-ago period, government data showed.
Exports are down as growers pick the much smaller mid crop and ahead of the
much larger main harvest in October.

In other news, the U.S. imported 6% more cocoa beans in May than it did in
April, though imports were down 15.7% from one year ago, data from the Commerce
Department showed.

Despite cocoa's gains, September remains in the trading range it has been in
for months, from a low of $2,800 to a high around $3,200 a pound.

ICE warehouse stocks of cocoa fell 30,187 145-pound bags to total 4.073
million bags.

London cocoa closed with modest gains. September cocoa traded on NYSE
Euronext's Liffe added GBP11, or 0.46%, to settle at GBP2,397 a ton.

Open interest in cocoa rose 735 to total 122,932 lots, ICE reported. Just 13
positions remained open in July ahead of its July 15 expiration.

Futures volume is pegged at 9,294 lots, with 599 calls and 447 put options
traded.

ICE Change Range
July $3,026 up 64 3,004 - 3,026
Sep $3,045 up 56 2,986 - 3,052

* ICE settlements in dollars per metric ton with intraday range.