US MIDDAY: cocoa extends losses on speculative sales

US cocoa futures ended down Wednesday for the second day running, with speculative selling in the face of a rising dollar wiping out market gains seen at the start of the week, market sources said. The New York Board of Trade's benchmark September contract fell $21, or 1.5 percent, to settle at $1,404 a tonne, near the bottom of a trading range from $1,401 to $1,443.
Indeed, the September contract failed to push through Monday's high of $1,444 a tonne, which was the loftiest price since July 5.
Among other cocoa contracts, December lost $21 to $1,435 a tonne, and back month deliveries shed $20.