
May ICE NY cocoa (CCK24) on Monday closed down -712 (-5.99%), and May ICE London cocoa #7 (CAK24) closed down -200 (-1.97%).
Cocoa prices Monday sold off sharply on heavy long liquidation pressures in cocoa futures. Losses in London cocoa were limited after the British pound (^GBPUSD) fell to a 5-1/4 month low Monday. The weaker pound boosts cocoa that is priced in terms of sterling.