
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.