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Barchart
Barchart
Rich Asplund

Cocoa Prices Rebound as ICE Inventories Tighten

Ice ICCO West Africa Ghana London Nigeria Ivory Coast NY United States

December ICE NY cocoa (CCZ25) on Friday closed up +10 (+0.41%), and December ICE London cocoa #7 (CAZ25) closed up +41 (+0.82%).

Cocoa prices on Friday recovered from 1.5-week lows and settled higher as inventories tightened after  ICE-monitored cocoa inventories held in US ports fell to a 4.5-month low of 2,022,316 bags.  Gains in London cocoa accelerated Friday after the British pound (^GBPUSD) fell to a 2-week low.   The weaker pound boosts cocoa that is priced in terms of sterling.

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