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Rich Asplund

Cocoa Prices Finish Lower on Optimism Over Next Season's Cocoa Crop

Ice Ghana Ivory Coast West Africa El Nino London

September ICE NY cocoa (CCU24) on Wednesday closed down -44 (-0.54%), and September ICE London cocoa #7 (CAU24) closed down -121 (-1.85%).

Cocoa prices on Wednesday settled moderately lower due to an improving outlook for the next cocoa season in West Africa. The end of the El Nino weather pattern and a potential shift to a La Nina pattern is set to boost precipitation in the Ivory Coast and Ghana, boosting soil moisture levels and increasing cocoa yields.

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