US MIDDAY: cocoa slumps

07 Jun, 2006

US benchmark cocoa futures fell about 1 percent to a one-week low Tuesday, depressed by speculative liquidation as a resurgent dollar weighed on the commodity sector, traders said.
The New York Board of Trade's active cocoa contract for July delivery lost $14 to settle at $1,460 a tonne, near the floor of a trading range from $1,457 to $1,481. It was the contract's lowest finish since May 30.
September shed $17 to conclude at $1,489 a tonne and back months declined $14 to $17.

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