December ICE NY cocoa (CCZ24) today is down -3 (-0.04%), and December ICE London cocoa #7 (CAZ24) is up +124 (+2.50%).
Cocoa prices today are mixed, with NY cocoa falling to a 4-week low. Negative carryover from Wednesday is weighing on cocoa prices after the European Commission postponed an anti-deforestation law for one year. The legislation, scheduled to go into effect December 30, is aimed at curbing forest clearance in countries that send products, including cocoa, to the EU. The postponement of the law allows certified cocoa stockpiles held at European warehouses to be used to satisfy contracts, reducing concerns that the new law would lead to the decertification of the cocoa and limiting existing cocoa supplies.
