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Barchart
Barchart
Rich Asplund

Cocoa Prices End Sharply Higher as Global Supplies Expected to Remain Tight

Ice Ivory Coast ICCO

May ICE NY cocoa (CCK24) on Wednesday closed up +459 (+4.34%), and May ICE London cocoa #7 (CAK24) closed up +336 (+3.55%).

Cocoa prices Wednesday rallied sharply on the outlook for global cocoa supplies to remain tight in the near term.  Recent volatility in cocoa prices has made it more expensive to maintain positions in cocoa as margins have sharply increased, prompting traders to close out trades, which drains liquidity and makes the market more vulnerable to large price swings.  

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