CIJENE KAKAA NA BURZI U NEW YORKU

CIJENE KAKAA NA BURZI U NEW YORK-U SAD - KAKAO Trgovačke spot cijene 23. prosinca 1997. minimalne količine u vagonima, cijene u am. dolarima po toni posljednja Ghana Maincrop 1857.00 N Ivory Maincrop Maincrop 1817.00 N Bahia superior Superior 1838.00 N Sanchez FAQ FAQ 1703.00 N Sulwaesi SAQ FAQ 1680.00 N Arriba Superior Superior 1812.00 N Malaysia 110 1697.00 N Liquor Ecuador 2431.00 N Liquor Brazil 2514.00 N Maslac African 4341.00 N Maslac drugi 4341.00 N Natural Cake 10/12% 627.00 N NEW YORK - Kakao cijene pri zatvaranju burze 23. prosinca 1997. MJE POSLJ OTVA NAJ NAJ ZATVA NAGO EDNJA RANJE VIŠA NIŽA RANJE DBE MAR8 1652 1616 1654 1616 1649 1650 MAY8 1685 1651 1685 1651 1682 1684 JUL8 1706 1679 1710 1679 1709 1710 SEP8 1734 1704 1734 1702 1735 1736 DEC8 1735 1733 1735 1733 1763 1764 MAR9 1770 1770 1770 1770 1787 1788 MAY9 1805 1806 JUL9 1823 1823 SEP9 1837 1837 CSCE cocoa ends higher, erases Monday's losses NEW YORK, Dec 23 (Reuters) - CSCE cocoa prices ended sharply higher, erasing virtually all of Monday's losses that were prompted by market concerns over the impact of Phibro unwinding its substantial cocoa position. While initially perceived as bearish by the market, uncertainty prevailed Tuesday as locals and small speculators covered much of their positions, traders said. Benchmark March futures settled at $1,650 a tonne, up $30 from Monday's close, trading between $1,654 and $1,616 a tonne. "The perception on Monday appeared that Phibro would be liquidating their position outright on the exchange and that much of their physical stocks would wind up on the board, putting pressure on the spot month," one commission house broker said. "But it's really too soon to determine that," he added. "After all, if they were to go through the exchange, they would have to go through grading procedures, which is timely. It would put pressure on prices, which is not the best strategy when you're trying to liquidate." An alternative would be to pursue a deal behind closed doors with another trading house, an investor or even a manufacturer to take over the management of the position at a price. "We've seen that happen before," another trader said. "In that scenario, the position could simply be managed by another strong entity and it wouldn't have much of an impact." Fundamentally, the market is unchanged, however. The harvest in the Ivory Coast continues to be productive, sources said. "But there's still some questions as to whether or not we'll see a deficit in supply next year," one trader said. Traders attributed the bulk of the selling to locals and small speculators, noting that manufacturers would be likely to buy on the way down looking for better bargains. Origin sellers are believed to be holding out for higher prices, one trader said. Technically, the market made a key reversal Tuesday making new lows for the move early in the session on currency-related losses before erasing virtually all of Monday's losses. The signal appeared to be confirmed by the crossing of the 18 and 40 day moving day averages late last week, which also hinted at a reversal. 241103 MET dec 97