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Barchart
Rich Asplund

Cocoa Prices Close Higher on Dollar Weakness and Tight Supplies

Ice London Cocoa NY Cocoa Ivory Coast Ghana ICCO

March ICE NY cocoa (CCH25) Friday closed up +101 (+0.91%), and March ICE London cocoa #7 (CAH25) closed up +46 (+0.51%).

Cocoa prices Friday settled moderately higher.  Friday's weaker dollar sparked some short covering in cocoa futures.  Shrinking global cocoa stockpiles are also bullish for prices.  ICE-monitored cocoa inventories held in US ports have been trending lower for the past 1-1/2 years and fell to a 20-year low Thursday of 1,361,633 bags.

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