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Monday, April 25, 2011

NY Coffee and cocoa market close review for today, April 25, 2011

COFFEE
* July arabica coffee futures fell 3.75 cents or 1.3 percent to  close at $2.9080 per lb.
 
* July rose early on thin volumes, moving back towards last week's  34-year high at $3.0250 per lb, but reversed lower on investor selling as  the commodity complex fell - traders.
 
* Total volume at 9,492 lots, down 63 percent from Easter Monday 2010 -  preliminary Thomson Reuters data.

* "I think we're down today with the stronger dollar." - James Cordier,  of brokers optionsellers.com in Florida.
 
* While tight supplies of high-quality arabicas have underpinned  prices, the market is about to enter into a seasonally low period in May -  Cordier.
 
* Speculators in the ICE coffee market boosted their bullish bets by  nearly a third in the week to April 19.

COCOA
* Key July cocoa futures settled $28 lower at $3,060 per tonne.
 
* Market easily reversed lower as the dollar turned higher and  investors sold commodities - traders.
 
* Total volume was thin at about 5,201 lots, down a steep 71 percent  from Easter Monday 2010 - preliminary Thomson Reuters data.
 
* The port of Abidjan is undamaged and open for business after Ivory  Coast's post-election conflict, but trade volumes will not pick up until  security and financing improve, the head of the port told Reuters. 
Source :  reuters
 
* Ivory Coast's President Alassane Ouattara on Friday ordered soldiers
from all sides of the country's conflict to return to their barracks in an
effort to restore stability.