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Rich Asplund

Cocoa Prices Rebound on Technical Short Covering

Ice ICCO European Union London

December ICE NY cocoa (CCZ25) today is up +164 (+3.32%), and December ICE London cocoa #7 (CAZ25) is up +72 (+1.90%).

Cocoa prices are sharply higher today as dollar weakness sparked short covering in cocoa futures, which had become heavily oversold following the sharp selloff seen over the past two weeks.

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