US cocoa futures finished lower Friday, giving back much of this week's gains as the corrective bounce lost gumption and the strong dollar and weak commodity complex added pressure, brokers said. The May cocoa contract fell $59 to close at $2,834 a tonne. May traded from $2,804 to $2,913.
Volume traded in the May contract reached a quiet 5,256 lots at 1:19 pm EDT (1719 GMT). US cocoa futures fell on follow-through pressure after the market closed lower Thursday, falling from a corrective bounce - traders.
The sharply lower pound against the dollar and overall weak commodity complex pushed cocoa futures even lower - traders. Cocoa arrivals at ports in top grower Ivory Coast reached 869,024 tonnes by March 14, up from 855,022 tonnes in the same period a year ago - Bourse du Cafe et Cacao.
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