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Rich Asplund

Cocoa Prices Recover as Dollar Weakness Sparks Short Covering

Ice ICCO European Union London

December ICE NY cocoa (CCZ25) on Thursday closed up +165 (+3.34%), and December ICE London cocoa #7 (CAZ25) closed up +83 (+2.19%).

Cocoa prices rallied sharply on Thursday as a weaker dollar 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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