Cocoa Futures Trading Lower

March New York Cocoa is trading at 2167, down 46 $/MT. May New York Cocoa is trading at 2156, down 39 $/MT. New York Cocoa futures are trading lower and modestly choppy during early post-holiday trading. Market chatter about Ivory Coast weather and global cocoa demand is making the rounds. Ghana expects to the nation's 2017 cocoa production to be near 850,000 to 900,000 metric tonnes.