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Rich Asplund

Cocoa Prices Consolidate Above Last Week's 4-Month Lows

Ice ICCO Hershey Mondelez

May ICE NY cocoa (CCK25) Wednesday closed up +53 (+0.64%), and May ICE London cocoa #7 (CAK25) closed up +83 (+1.30%).

Cocoa prices on Wednesday settled moderately higher as they consolidated about last week's 4-month lows. Cocoa prices recovered from early losses on Wednesday and turned higher after the dollar (DXY00) gave up an early advance, sparking short covering in cocoa futures.

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