December ICE NY cocoa (CCZ25) today is down -8 (-0.11%), and December ICE London cocoa #7 (CAZ25) is up +28 (+0.56%).
Cocoa prices today fell to 1.5-week lows but are mixed. Cocoa has been under pressure this week as rain in West Africa has eased dry conditions that may promote flowering of cocoa trees, which could boost the region's cocoa output. However, today's slide in the British pound (^GBPUSD) to a 2-week low sparked short covering in London cocoa and pushed prices higher. The weaker pound boosts cocoa that is priced in terms of sterling.
