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Rich Asplund

Cocoa Prices Rally to 7-1/2 Year High on El Nino Concerns and Heavy Rain in West Africa

Ice El Nino West Africa NY ICCO London

July ICE NY cocoa (CCN23) on Wednesday closed up +80 (+2.49), and July ICE London cocoa #7 (CAK23) closed up +41 (+1.56%).

July NY cocoa prices on Wednesday rallied sharply to a new contract high and a new 7-1/2 year high on the nearest-futures chart.

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