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Barchart
Barchart
Rich Asplund

Cocoa Prices Pressured by Beneficial Rain in West Africa

Ice West Africa ICCO Ghana Ivory Coast London NY

July ICE NY cocoa (CCN25) Monday closed down -85 (-0.83%), and July ICE London cocoa #7 (CAN25) closed down -22 (-0.32%).

Cocoa prices retreated on Monday due to the outlook for additional rainfall in West Africa, which is improving the prospects for the region's cocoa crop.  Weather forecasts are calling for showers to continue through this week in the Ivory Coast and Ghana, the world's two largest cocoa-producing countries.

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