Cocoa little changed

Cocoa futures are rangebound Wednesday morning. September Cocoa is trading at 3221, down 14 and July Cocoa is trading at 3221, down 13. Chatter about rain in the Ivory Coast and dry weather in Nigeria has been making the rounds. Market chatter that Ivory Coast port arrivals are below 2014 levels has been supportive. Since the mid-crop harvest began in early April port arrivals are 15% lower versus a year ago. Some market chatter is making the rounds that when the rains slows more cocoa bean supplies will begin to show up. Market talk about disease and pests has now been added to the mix. Chatter about demand concerns with prices at current levels has been making the rounds.