
March ICE NY cocoa (CCH26) today is down -429 (-6.83%), and March ICE London cocoa #7 (CAH26) closed down -321 (-7.05%).
Cocoa prices are sinking today as rains in West Africa and a delay in the seasonal Harmattan winds have been beneficial to cocoa crops, sparking long liquidation in cocoa futures. Cocoa farmers in the Ivory Coast and Ghana are reporting a well-balanced mix of rain and sunshine that is supporting cocoa pod development.