Cocoa Lower

Cocoa futures are trading lower Tuesday. May Cocoa is trading at 2724, down 33. July Cocoa is trading at 2722, down 30. The lower dollar has had little impact on trading. Chatter of good weather to harvest mid-crop cocoa in West Africa has brought in some sellers. Uncertainty over demand and what the cocoa crop will be has kept both buyers and sellers active. Market talk that not until mid-April or later will producers know the real crop size is making the rounds. Ivory Coast cocoa port arrivals are slightly below last year's levels. In total, Ivory Coast cocoa port arrivals are about 50,000 ahead of last season.