Forecast for Cocoa : Cocoa may fall again as Quattara almost took control San Pedro

Forces loyal to Alassane Ouattara, have marched into the major cocoa port of San Pedro.San Pedro is a strategically important town because it ships half the cocoa beans from the world's top cocoa grower.

The witnesses said that  shooting erupted in the town overnight on Wednesday. One said he thought pro-Ouattara forces had already seized control of San Pedro's airport although this could not be independently confirmed.

The witnesses also told that shooting started at around 9 pm (2100 GMT) then the rebels' vehicles drive into the town.

The disputed election that was meant to draw a line under a 2002-3 civil war has instead reignited it, as rebels who control the northern half of the country and now back Ouattara advance south into Gbagbo's territory from all sides.

Pro-Quattara forces seized the official capital Yamoussoukro on Wednesday, and they have advanced thousands of miles in the east towards the main city of Abidjan, where analysts expect the fiercest battles will be.

Earlier, Captain Leon Alla, a defence spokesman for Ouattara, said his forces took control of Sinfra on Tuesday and Bouafle and Soubre, 130km north of San Pedro, on Wednesday.

Residents of Tiebisso, 40km north of the capital, also reported fighting.

Ouattara's prime minister Guillaume Soro told French radio Gbagbo had just "hours" to leave power peacefully.------

( Forecast and analisys ): US Coffee market close for today, March 30, 2011

01:39 31Mar11 -NY cocoa down to 2-1/2 month low, sugar and coffee up

NEW YORK, March 30, 2011 - U.S. Arabica coffee and raw sugar futures moved higher in a modest reboun.

-May arabica coffee futures closed higher 3.35 cents to   $2.648 per lb.

- Market rebounds on investor short-covering.
  

-The fundamentals for coffee remain comparatively good.
 

- Those fundamentals supporting bean futures are mainly because of the
shortage of high quality washed arabica beans.
 

- Roaster demand staying weak and putting pressure on bean values.------

( Analisys and forecast ) :NY Cocoa Market Close Review for today, March 30, 2011

NEW YORK/LONDON, March 30, 2011 - U.S. cocoa  futures  fell to a 2-1/2 month low  as investors waited increased prospects for a resolution to the power struggle in Ivory Coast, which could free up exports from the world's top cocoa grower.

Volume in U.S. cocoa futures was double the 30-day norm. Players decreased their long position as Alassane Ouattara seems to be gaining the upperhand over incumbent Laurent Gbagbo.

COCOA PRICE FOR TODAY ( UPDATE) : Cocoa London declined sharply on worried supply

March 30, 2011 -- Cocoa declined to the lowest level in 2 1/2 months in Liffe on speculation  supplies from the Ivory Coast.

Local fighters that's loyal to Alassane Ouattara, the internationally recognized winner of the West African nation's Nov. 28 presidential election, moved closer to the commercial capital, Abidjan, where beans are exported. 

They have handed at least five towns this week and moved to within 240 kilometers (149 miles) of Abidjan, said Meite Sindou, spokesman for Ouattara's prime minister and defense minister, Guillaume Soro.

ICE cocoa : margin hikes

NEW YORK, March 30 - ICE Futures U.S. said on Tuesday it will raise the margin requirement for cocoa futures by 6.7 percent effective March 31, the fourth such hike in four months.

The exchange raised the margin requirement for cocoa futures and cleared-only cocoa, by $100 to $1,600 per contract, it said in a notice.

It raised the margins by $50 to $750 for cocoa intra spread T1-T2 and cleared-only cocoa intra spread T1-T2.

The new margins for juice were lowered by $500, or 32 percent, to $1,050 per contract, the exchange said in a notice.

The exchange will also raise margin requirements for sugar No. 11 calendar spread options by $150 to $550, and sugar No. 16 intra spreads by $800 to $1,500. The new margin for the CCI Index is up $4,500 at $11,500.

VIETNAM : Speculants still hold limitted domestic supply, wait price rebounds

HANOI, March 29, 2011 -  Some traders in Vietnam said taht they still hold the tight domestic supply even the price has dropped nearly 6 percent on  this week. They (speculants) still wait the price rebounds.

Most coffee farmers have sold out their stocks to export firms and buying agents, who are better financed and often hold back beans for speculation, as Vietnam has nearly ended the first half of its 2010/2011 coffee crop.

NY Coffee, Cocoa & Sugar market close review for today, March 29, 2011 ( little forecast for march 30, 2011 )

NEW YORK, March 29, 2011 - U.S. cocoa declined sharply on closing and hit   a two-month low on Tuesday.  It is the heaviest volume traded in seven week.  The price began to fall after toching the  key technical level and as rebels in top grower Ivory Coast appeared on track to reach a key export port there.

Arabica coffee also closed lower, on chart-based pressure after falling below its head-and-shoulders pattern, while raw sugar reversed to settle slightly lower.

RAW SUGAR

- May contract of raw sugar finished down 0.03 cent at 27.02 cents per lb.