Cocoa Extends Losses
Cocoa futures have moved lower extending Thursday's losses Friday morning. September Cocoa is trading at 3028, down 29. December Cocoa is trading at 3044, down 27.
Market talk about demand concerns in emerging market economies is making the rounds. Chatter about good weather and supplies from West Africa has kept both buyers and sellers active in recent sessions.
Cameroon's cocoa board reported that cocoa production rose by nearly 12 percent versus the previous season. Cameroon's growing season is a couple months ahead of other West African countries. Harmattan winds earlier this year that damaged Ghana's cocoa crop did not effect them.
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