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Barchart
Barchart
Rich Asplund

Cocoa Prices Jump as Global Supplies Expected to Remain Tight in the Near Term

Ice Ivory Coast

May ICE NY cocoa (CCK24) this morning is up +365 (+3.45%), and May ICE London cocoa #7 (CAK24) is up +339 (+3.59%).

Cocoa prices today are sharply higher on the outlook for global cocoa supplies to remain tight in the near term.  Recent volatility in cocoa prices has made it more expensive to maintain positions in cocoa as margins have sharply increased, prompting traders to close out trades, which drains liquidity and makes the market more vulnerable to large price swings.  

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