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Barchart
Rich Asplund

Cocoa Prices Plummet as West African Cocoa Crop Prospects Improve

Ice West Africa ICCO London NY Ivory Coast Ghana

July ICE NY cocoa (CCN25) today is down -485 (-5.03%), and July ICE London cocoa #7 (CAN25) is down -284 (-4.37%).

Cocoa prices today extended their week-long selloff, with NY cocoa dropping to a 2-week low and London cocoa sinking to a 3-week low.  Cocoa prices are under pressure due to favorable weather in West Africa, which is expected to aid cocoa crop development in the world's largest cocoa-growing region.  

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