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Barchart
Barchart
Rich Asplund

Cocoa Prices Finish Sharply Higher as ICE Cocoa Inventories Shrink

Ice Ivory Coast ICCO Ghana

September ICE NY cocoa (CCU24) on Tuesday closed up +495 (+6.79%), and September ICE London cocoa #7 (CAU24) closed up +306 (+4.96%).

Cocoa prices rallied sharply on Tuesday and recovered all of Monday's losses.   The price movement in cocoa remains highly volatile, and little news can move prices substantially.  Short-covering Tuesday pushed prices sharply higher after ICE-monitored cocoa inventories held in US ports on Tuesday fell to a 3-1/2 year low.

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