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Barchart
Rich Asplund

Cocoa Prices Rebound on Dollar Weakness and Falling ICE Inventories

Ice Ivory Coast ICCO London NY Ghana

Dec ICE NY cocoa (CCZ23) on Friday closed +53 (+1.56%), and Dec ICE London cocoa #7 (CAZ23) closed +45 (+1.53%).

Cocoa prices Friday recovered from early losses and closed moderately higher.  A weaker dollar Friday sparked short covering in cocoa futures.  Also, supplies continue to tighten as ICE-monitored cocoa inventories held in U.S. ports have declined steadily over the past four months to an 8-1/2 month low Friday.  

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