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Barchart
Rich Asplund

Cocoa Prices Pressured by Robust Supplies and Weak Demand

Ice ICCO London the International Cocoa Organization

March ICE NY cocoa (CCH26) today is down -177 (-4.94%), and March ICE London cocoa #7 (CAH26) is down -68 (-2.70%).

Cocoa prices extended their two-month-long plunge today, falling to 2.5-year nearest-futures lows.   Robust global supplies and slack demand are weighing on cocoa prices.  Limiting losses in London cocoa is weakness in the British pound (^GBPUSD), which fell to a 3-week low today, boosting cocoa priced in sterling.

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