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Coca slightly weaker

NEW YORK: CSCE cocoa futures were slightly weaker at midday in trade highlighted by light liquidation of the September position ahead of Friday's first notice day, market sources said.

After the dollar's rise versus sterling Tuesday prompted a heavy round of arbitrage play, the market settled back into its summer doldrums today.

Some origin selling was observed, including participation by the Ivory Coast, but values remained range-bound.

"There is no feature today," said one. "Just some people getting out of their September positions."

Most active December was off $2 a tonne as of 1220 EDT, to $1,317, while spot September eased $4, to $1,280.

Volume was light, at 4,880 lots as of 1200 EDT.-Reuter