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Rich Asplund

Cocoa Prices Pressured by Beneficial Rain in West Africa

Ice West Africa ICCO London Cocoa NY Cocoa Ghana CFTC Deficit Ivory Coast London

March ICE NY cocoa (CCH25) today is down -101 (-0.92%), and March ICE London cocoa #7 (CAH25) is down -94 (-1.08%).

Cocoa prices today are moderately lower as beneficial rains in West Africa have increased soil moisture levels and are benefiting cocoa tree development.  Farmers in the Ivory Coast and Ghana report that recent rain has benefited their crops and led to the re-flowering of cocoa trees.

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