Robert Hafer, senior commodities analyst at Kaiser Financial Group, said Monday's rally continued yesterday for only about 20 minutes after the opening.  He said even though there was arbitrage buying in New York because of the weak dollar, cocoa fell to relentless pressure from bearish traders.
there is much more of a decline in store for cocoa
But he noted that speculators apparently don't believe there is much more of a decline in store for cocoa.
Robert Hafer, senior commodities analyst at Kaiser Financial Group, said Monday's rally continued yesterday for only about 20 minutes after the opening.  He said even though there was arbitrage buying in New York because of the weak dollar, cocoa fell to relentless pressure from bearish traders.</s>But he noted that speculators apparently don't believe there is much more of a decline in store for cocoa.</s>there is much more of a decline in store for cocoa