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Rich Asplund

Cocoa Prices Jump on West African Cocoa Crop Concerns

COCOA Ice West Africa London Deforestation Ghana ICCO Ivory Coast Maxar Technologies NY

December ICE NY cocoa (CCZ24) today is up +181 (+2.15%), and December ICE London cocoa #7 (CAZ24) is up +245 (+3.50%).

Cocoa prices today are climbing, with London cocoa sharply higher at a 4-month high. Cocoa is rallying today on concern about cocoa crop production in West Africa after forecaster Maxar Technologies said that dry conditions in West Africa this week will lead to "unfavorable soil moisture levels that will not support the flowering of the mid-year cocoa crop."

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