US open-outcry cocoa futures ended firm on Tuesday, on technical support amid quiet trade but failed to revisit Monday's 4-1/4-year highs, while ICE electronic dealings hit a contract high in early trade, dealers said. "(There was) a little pull back, we successfully tested support," one broker said.
The New York Board of Trade (NYBOT) agricultural commodities market will be closed for the United States Independence Day holiday on Wednesday and will reopen for regular trade on Thursday. The New York Board of Trade benchmark September contract gained $11, settling at $2,062 in dealings from $2,048 to $2,065. One contract aside, the rest ranged from $6 to $9 higher.
The September contract trading on the Intercontinental Exchange NYBOT electronic platform was up $6 at $2,057, at 12:53 pm EDT (1653 GMT), in wide dealings from $2,038 to $2,080, a contract high. The rest ranged broadly from $23 higher to $3 lower. Electronic trading ends at 3:15 pm.
August options will expire Friday, dealers said. In London, the Liffe September contract rose 4 pounds to settle at 1,101 pounds, trading in a range from 1,091 pounds to 1,113 pounds. NYBOT estimated open-outcry volume around noon at 1,127 lots, compared with the 1,780 contracts that traded in open-outcry on Monday, when 10,476 contracts traded on the ICE electronic platform.
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