Noticias cacao 20 julio

DJ ICE Cocoa Review: Slips As Dollar Gains, London Prices Ease
NEW YORK (Dow Jones)--Cocoa prices slid Tuesday under pressure from the
stronger dollar and weakness in the London market.

Nearby cocoa for September delivery settled $4, or 0.1%, lower at $2,977 a
metric ton on ICE Futures U.S. Cocoa prices have dropped 6% since Friday. The
market recently trekked higher on the back of massive demand for exchange
stocks in London. Liffe London cocoa ended GBP26, or 1%, lower Tuesday at
GBP2,319 a ton.

The dollar gained as traders avoided the euro ahead of the Friday release of
results from stress tests on European banks. Bearish housing data also added
strength to the greenback as signs of stalling U.S. economic recovery damp risk
appetite. Investors bought the safe-haven dollar, which made cocoa more
expensive in other currencies.

In effect, cocoa prices slumped.

"It seems to be a dollar play," said Jack Scoville, vice president at Price
Futures Group in Chicago.

A technical trader said the market is likely to move back to the recent range
of $2,920 to $3,100 basis September.

Cocoa is trading within a seasonally light market timeframe that lasts until
close to the onset of the main harvest in West Africa. Demand also typically
picks up at that time, in line with holiday season demand in the U.S. and
Europe.

Cocoa exports out of Ivory Coast's San Pedro port rose by 54% through the
year ended June 10, data show. Ivory Coast is the world's leading exporter of
cocoa.

ICE cocoa open interest--the number of active positions left at the end of
the session--decreased by 244 positions Monday to total 127,310, the exchange
reported.

Volume was estimated 14751 contracts, according to exchange data. In options,
approximately 824 calls and 727 puts traded.

Close Change Range (To the point of settlement)
Sep $2,977 -$4 $2,932-$3,025
Dec $3,002 -$2 $2,958-$3,031