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Barchart
Barchart
Rich Asplund

Cocoa Futures Climb on Short Covering as the Dollar Weakens

July ICE NY cocoa (CCN25) Wednesday closed up +173 (+1.77%), and July ICE London cocoa #7 (CAN25) closed up +73 (+1.13%).

Cocoa prices rose on Wednesday as dollar weakness prompted some short covering in cocoa futures.  Gains in London cocoa were muted Wednesday after the British pound (^GBPUSD) rose to a 1-week high, undercutting cocoa that is priced in terms of sterling.

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