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Barchart
Rich Asplund

Cocoa Falls Back From Record Highs as Dollar Strength Spurs Long Liquidation

Ice London NY Ivory Coast ICCO

May ICE NY cocoa (CCK24) on Tuesday closed down -27 (-0.28%), and May ICE London cocoa #7 (CAK24) closed up +18 (+0.22%).

Cocoa prices on Tuesday settled mixed.  Prices on Tuesday initially extended their parabolic rally, with NY cocoa and London cocoa posting new all-time highs.  However, cocoa prices fell back from their best levels and turned mixed as Tuesday's rebound in the dollar (DXY00) sparked long liquidation pressures.

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