
Dec ICE NY cocoa (CCZ23) on Tuesday closed -105 (-2.59%), and Dec ICE London cocoa #7 (CAZ23) closed -78 (-2.19%).
Cocoa prices on Tuesday gave up early gains and closed sharply lower. A rally in the British pound (^GBPUSD) to a 2-month high Tuesday sparked long liquidation in London cocoa that carried over to profit-taking in NY cocoa. Stop-loss selling picked up steam as prices fell further, and cocoa prices closed sharply lower.