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Rich Asplund

Cocoa Prices Fall on Long Liquidation and Rising ICE Inventories

Ice London Ivory Coast StoneX United States

September ICE NY cocoa (CCU26) today is down -40 (-0.79%), and September ICE London cocoa #7 (CAU26) is down -62 (-1.62%).

Cocoa prices are under pressure today on some pre-weekend liquidation and position squaring, with US markets closed on Friday for a holiday. Losses in London cocoa accelerated today after the British pound (^GBPUSD) rose to a 2-week high. The stronger pound undercuts cocoa priced in sterling.

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