Cocoa Futures Prices Update

Cocoa futures prices on ICE Futures in late trading Thursday on Wednesday (06/04)go up. Strengthening of cocoa prices triggered anxiety disorders of cocoa production and a weakening of the u.s. dollar.

Cocoa price be expensive triggered disorder cocoa production. Purchase of cocoa in the middle of the Ivory Coast crop began in April should be halted because of a lackof rain and wind has also been hard hit quality plants, farmers and buyers say.

While the influence of another rise in the price of cocoa is the weakening of the u.s. dollar. The U.S. dollar index at the end of yesterday's trade down 0.12 94.49 percent.The weakening of the u.s. dollar came after the results of the treatise the FOMC stated the attitude of policy makers of The Fed that suggests caution in the U.S. raise rates.

The weakening of the u.s. dollar made commodities cocoa being sold in US dollar currency is becoming cheaper, so demand is rising.

In late trade Thursday early morning price of cocoa futures contract July 2016 which is observed most active contract closed with registered an increase. The closed up commodity prices by 17 percent in dollar terms or 0.59 position 2912 dollars per tonne.

yessnews estimates that the price of cocoa futures for trading next will move in a tendency to weaken with forecasts of rainy weather that began evenly to give hope ofimprovement of production in cocoa producers countries and also the strengthening of the u.s. dollar.

Cocoa prices further to trade futures on the ICE Futures New York the potential to penetrate the support level at 2860 dollar position. If the support level is successfully penetrated the next level was 2810 dollars. While the resistance level will be penetrated if the hike is on 2960 3010 dollar and dollar.