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Barchart
Rich Asplund

Cocoa Prices Hammered by Favorable Growing Conditions in West Africa

Ice West Africa ICCO London Ivory Coast NY

July ICE NY cocoa (CCN25) today is down -266 (-2.68%), and July ICE London cocoa #7 (CAN25) is down -202 (-3.14%).

Cocoa prices today added to Tuesday's losses and are sharply lower, with London cocoa falling to a 2-1/2 week low.  Rain forecasts for West Africa are expected to benefit the region's cocoa crops and are weighing on prices.  Forecaster Vaisala stated Tuesday that moderate to heavy rainfall has fallen in West Africa over the past few days and is expected to persist through the end of the week.  

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