950817

Cocoa ends unchanged

NEW YORK: CSCE cocoa futures ended unchanged to narrowly firmer in uneventful dealings largely confined to technical adjustments by day traders, market sources said.

Some light arbitrage buying of London against New York weighed on the market early on. Day traders shorted the market throughout the morning, but they squared positions when follow-through selling failed to emerge.

Some light selling by origins was observed early in the day, but traders said producers were not a signficant presence.

Most active December climbed $1 a tonne, to $1,319, after ranging from $1,310 to $1,327. September cocoa rose $1, to $1,285, after trading between $1,274 and $1,288. The outer months were unchanged.

The day's turnover was estimated at 7,595 lots.-Reuter