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Barchart
Barchart
Rich Asplund

Cocoa Closes Lower Ahead of Quarterly Global Cocoa Grinding Reports

March ICE NY cocoa (CCH25) Wednesday closed down -130 (-1.19%), and March ICE London cocoa #7 (CAH25) closed down -111 (-1.25%).

Cocoa prices fell moderately Wednesday due to the concern that high prices are causing demand destruction for cocoa.  On Tuesday, Brazil reported that Q4 cocoa processing fell -5.5% y/y to 59,589 MT.  On Thursday, Q4 European, Asian, and North American cocoa grinding reports will be released.

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