US MIDDAY: cocoa rebounds

Cocoa futures in the US gyrated violently Tuesday in suspected computer-generated dealings which prompted the exchange to cancel some trades as traditional players complained of market distortion. Cocoa futures on ICE Futures US sank $450 in 60 seconds before rebounding a whopping $349 a minute, a striking move since the market had hit 32-year highs Tuesday due to unrest in top producer Ivory Coast.
New York's May cocoa contract dropped $75 to close at $3,620 per tonne, one day after posting the highest settlement close in 32 years. New York's May raw sugar contract fell 0.19 cent to conclude at 29.26 cents per lb. New York's May arabica coffee futures fell 2.40 cents to finish at $2.693 per lb.