US MIDDAY: cocoa rebounds

Cocoa futures rebounded from an earlier four-week low early on Monday with industry buying helping to stem the market's recent downward slide. Dealers said the market had earlier been weighed by hedge selling as supplies flowed out of West Africa despite ongoing political tensions in Ivory Coast.
May cocoa on ICE stood $24 higher at $2,897 a tonne. Raw sugar futures on ICE were lower as the market fell back slightly following Friday's surge, driven by doubts about the exports outlook from number two producer India due to mounting concerns about domestic inflation. March raws fell 0.29 cent or about 0.9 percent to 31.24 cents a lb. May arabicas on ICE rose 2.15 cents or 0.9 percent to $2.3440 per lb.