
July ICE NY cocoa (CCN25) Thursday closed up +128 (+1.29%), and July ICE London cocoa #7 (CAN25) closed up +65 (+0.99%).
Cocoa prices settled higher on Thursday, with NY cocoa posting a 1-1/2 week high and London cocoa posting a 1-week high. Thursday's fall in the dollar index (DXY00) to a 6-week low prompted short covering in cocoa futures. Gains in London cocoa were limited on Thursday after the British pound (^GBPUSD) rallied to a 3-1/4-year high, undercutting cocoa that is priced in terms of sterling.