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Rich Asplund

Ample Global Supplies Weigh on Cocoa Prices

Ice On the Ivory Coast ICCO London

May ICE NY cocoa (CCK26) today is down -30 (-0.95%), and May ICE London cocoa #7 (CAK26) is down -1 (-0.04%).

Cocoa prices are moving lower today but remain above Thursday's 3-week lows. Cocoa prices have been under pressure over the past two weeks amid expectations of a bumper West African cocoa crop. Farmers in the Ivory Coast and Ghana have recently reported that consistent rains have boosted pod development on cocoa trees.

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