Cocoa closed lower on good weather in Africa and weak demand ideas. Ideas are that processors are not active in the market right now and are hoping for lower prices before buying again.
Traders have a number of economic reports to watch for next week including GDP, pending home sales and personal spending reports.
With most of the Fed members still in Bernanke’s corner and the pattern of dip buying this year, many traders may look at this sell-off as an opportunity to buy into this market. What is the most effective way they can do so?
Canada vowed to escalate a dispute with the U.S. over plans to impose stricter country-of-origin labeling rules for meat.