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Rich Asplund

Cocoa Prices Pressured by Dollar Strength and Rising ICE Inventories

Ice Ivory Coast London NY StoneX

September ICE NY cocoa (CCU26) on Monday closed down -13 (-0.23%), and September ICE London cocoa #7 (CAU26) closed up +1 (+0.02%).

Cocoa prices were under modest pressure on Monday amid a stronger dollar, which weighed on most commodities. Also, rising cocoa inventories are bearish for prices after ICE cocoa inventories rose to a 2-year high of 3,279,012 bags on Monday.

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