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Barchart
Rich Asplund

Cocoa Prices Close Slightly Lower on a Stronger Dollar

Ice ICCO London Ivory Coast

July ICE NY cocoa (CCN23) on Wednesday closed down -6 (-0.20%), and July ICE London cocoa #7 (CAK23) closed down -3 (-0.13%).

Cocoa prices Wednesday closed slightly lower, pressured by a rally in the dollar index to a 2-month high.  Losses in London cocoa were limited after the British pound (^GBPUSD) Wednesday fell to a 5-week low against the dollar.  A weaker pound boosts cocoa that is priced in terms of sterling.

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