
March ICE NY cocoa (CCH26) on Wednesday closed down -20 (-0.33%), and March ICE London cocoa #7 (CAH26) closed down -11 (-0.25%).
Cocoa prices gave up early gains and settled lower on Wednesday as favorable weather in West Africa is expected to boost yields and supply, which is bearish for prices. Cocoa farmers in the Ivory Coast are reporting that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season.