US MIDDAY: cocoa retreats

18 Jun, 2008

Cocoa futures on ICE Futures US eased on profit-taking after tapping a 28-year high for the fourth straight day early on Tuesday, while coffee was range-bound after Monday's heavy-volume session. September arabica coffee contract was up 1.15 cents at $1.3985 per lb by 9:31 am EDT (1331 GMT), spanning $1.3805 to $1.4065. Back-month contracts up 0.35 to 1.50 cents.
Benchmark September cocoa contract was own $15 at $3,015 a tonne by 9:32 am after hitting $3,040 which marked the loftiest level since March 1980 for the second-position on a monthly continuation chart. The rest down from $10 to $37.

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