March ICE NY cocoa (CCH25) today is down -111 (-0.95%), and March ICE London cocoa #7 (CAH25) is down -148 (-1.58%).
Cocoa prices today are moderately lower as a stronger dollar induced long liquidation in cocoa futures. On Wednesday, NY cocoa posted a 2-week high, and London cocoa posted a 1-month high on crop production concerns in West Africa. Forecaster Maxar Technologies said this year's seasonal Harmattan winds are the driest in six years, worsening crop conditions. Some Ivory Coast and Ghana cocoa farmers have reported that cocoa trees are beginning to suffer the effects of the seasonal dry and dusty Harmattan winds, with leaves turning yellow and the cherelles (cocoa pods) withering.
