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Barchart
Barchart
Rich Asplund

Cocoa Prices Mixed on Currency Fluctuations

May ICE NY cocoa (CCK24) this morning is down -9 (-0.11%), and May ICE London cocoa #7 (CAK24) is up +49 (+0.72%).

Cocoa prices this morning are mixed, with London cocoa posting a new record high.  NY cocoa gave up an early advance today and turned lower as a rally in the dollar index (DXY00) to a 2-week high sparked long liquidation in NY cocoa.  London cocoa added to its gains today after the British pound (^GBPUSD) fell to a 2-week low.  A weaker pound boosts cocoa that is priced in terms of sterling.  

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