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Barchart
Barchart
Rich Asplund

Beneficial Rain in West Africa Undercuts Cocoa Prices

Ice West Africa ICCO Ivory Coast London NY

July ICE NY cocoa (CCN25) today is down -97(-0.97%), and July ICE London cocoa #7 (CAN25) is down -110 (-1.68%).

Cocoa prices today gave up an early advance and turned lower on forecasts for rain in West Africa, which is expected to benefit the region's cocoa crops.  Forecaster Vaisala stated today that moderate to heavy rainfall has fallen in West Africa over the past few days and is expected to persist through the end of the week.  

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