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Rich Asplund

Cocoa Prices Plunge on Beneficial Growing Conditions in West Africa

Ice West Africa ICCO Ivory Coast Maxar Technologies Ghana

September ICE NY cocoa (CCU24) today is down -734 (-8.54%), and September ICE London cocoa #7 (CAU24) is down -492 (-6.99%).

Cocoa prices today are sharply lower as beneficial growing conditions in West Africa raise expectations for cocoa crop prospects. Forecaster Maxar Technologies said showers are expected to continue this week in most of the cocoa-growing regions of West Africa, "keeping soil moisture favorable for crop growth."

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