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Rich Asplund

Cocoa Prices Push Higher on Ivory Coast Crop Concerns

Ice Ivory Coast ICCO United States London NY

July ICE NY cocoa (CCN23) on Wednesday closed up +27 (+0.90%), and July ICE London cocoa #7 (CAK23) closed up +13 (+0.58%).

Cocoa prices Wednesday added to this week's gains, with NY cocoa posting a 7-year nearest-futures high and London cocoa posting a 2-week high.  Cocoa prices have support after the head of the Ghana Cocoa Marketing Company said Tuesday that the spread of swollen shoot disease threatens cocoa yields in the Ivory Coast.

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