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Barchart
Rich Asplund

Cocoa Prices Consolidate This Week's Sharp Rally

Ice Ivory Coast ICCO London NY

July ICE NY cocoa (CCN24) today is down -42 (-0.45%), and July ICE London cocoa #7 (CAN24) is down -123 (-1.63%).

Cocoa prices today fell back from 3-week highs and are moderately lower.  Long liquidation pressures emerged in cocoa futures today after prices soared more than +15% earlier this week.  Inadequate rain in West Africa is causing an uncertain outlook for cocoa production in the region and is boosting prices.

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