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Barchart
Rich Asplund

Cocoa Prices Give Up Early Gains on West African Cocoa Crop Optimism

Ice West Africa ICCO Ivory Coast London NY

September ICE NY cocoa (CCU25) today is down -22 (-0.25%), and July ICE London cocoa #7 (CAN25) is down -41 (-0.68%).

Cocoa prices today gave up an early advance and turned lower on optimism about West African cocoa crops.  Cocoa prices have been under pressure over the past couple of weeks, with NY cocoa posting a 2-1/4 month low last Friday and London cocoa posting a 2-1/2 month low.  Recent rain in West Africa is expected to benefit the region's cocoa crops and has limited the upside in cocoa prices.  

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