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Barchart
Barchart
Rich Asplund

Beneficial Rain in West Africa Hammers Cocoa Prices

Ice West Africa Vaisala ICCO Ivory Coast Ghana London NY

July ICE NY cocoa (CCN25) Thursday closed down -441 (-4.11%), and July ICE London cocoa #7 (CAN25) closed down -354 (-4.75%).

Cocoa prices plunged on Thursday to 1-week lows.  Expectations for favorable rain in West Africa to aid cocoa crop development hammered cocoa prices Thursday after meteorologist Vaisala said that moderate showers are expected to continue for the rest of this week in the cocoa-growing regions of West Africa.

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