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Barchart
Rich Asplund

Cocoa Prices Fall Back on Dollar Strength

Ice London ICCO Ghana Ivory Coast NY

Dec ICE NY cocoa (CCZ23) on Thursday closed -40 (-1.10%), and Dec ICE London cocoa #7 (CAZ23) closed -4 (-0.13%).

Cocoa prices Thursday closed moderately lower as a rally in the dollar index sparked long liquidation in cocoa futures.  Losses in London cocoa were limited after the British pound (^GBPUSD) fell to a 3-month low against the dollar.  The weaker pound boosts cocoa that is priced in terms of sterling.  

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