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Home / Futures Blog / Cocoa futures rise on Indonesia production concerns

Cocoa futures rise on Indonesia production concerns

October 13, 2010 by Daniels Trading

Cocoa futures for December 2010 delivery gained 1.281 percent today, rising to $2,887 per metric ton. 

The gain was partially driven by an announcement from the Indonesian Cocoa Association; the group said that the nation's output of cocoa beans would fall 9 percent to 500,000 metric tons this year. Originally, growers had hoped to boost last year's production of 550,000 tons to 600,000 tons, but the weather isn't cooperating.

An extended rainy season and La Nina events have damaged some of the cocoa crops and hurt the overall quality of the harvest. 

"The October-November period is supposed to be our second harvest, but heavy rain has destroyed our crops. Some exporters have asked their buyers to delay shipments due to limited supplies from farmers," said ICA chairman Zulhefi Sikumbang. "The rain was forecast to persist until February, so we are afraid it will also affect next year's production, as we may only have one good harvest."

Indonesia is the world's third-largest exporter of cocoa beans, trailing only the Ivory Coast and Ghana. 

Cocoa beans have trailed other soft commodities this year, falling from nearly $3,500 per metric ton in January to a low of about $2,600 in September.

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This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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