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Barchart
Rich Asplund

Cocoa Prices Gain on Dollar Weakness and Tighter Supplies

Ice London Cocoa NY Cocoa Ivory Coast Ghana ICCO London

March ICE NY cocoa (CCH25) today is up +141 (+1.26%), and March ICE London cocoa #7 (CAH25) is up +76 (+0.85%).

Cocoa prices today are moderately higher.  Today's weaker dollar has sparked some short covering in cocoa futures.  Shrinking global cocoa stockpiles are also bullish for prices.  ICE-monitored cocoa inventories held in US ports have been trending lower for the past 1-1/2 years and fell to a 20-year low Thursday of 1,361,633 bags.

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