The benchmark US cocoa futures price fell to a two-week low on Tuesday, pressured by light speculative selling and weak technical signals in an otherwise uneventful session, traders said. The New York Board of Trade's most-active September cocoa contract shed $36, or 2.3 percent, to settle at $1,509 a tonne, near the bottom of a $1,506-$1,538 trading range.
It was the contract's lowest finish since June 14, when it ended at $1,484.
The September delivery has fallen 5.3 percent since Friday's session peak at $1,594, which was the loftiest trade in about two months.
Among other cocoa futures, the front-month July cocoa ended Tuesday's session at $1,409, a loss of $31.
Comments
Comments are closed.