March ICE NY cocoa (CCH26) today is up +43 (+0.83%), and December ICE London cocoa #7 (CAZ25) is down -78 (-2.06%).
Cocoa prices recovered from 1.75-year nearest-futures lows today and are trading mixed. Short covering emerged in cocoa futures today to push NY cocoa into positive territory on signs of smaller cocoa arrivals to ports in the Ivory Coast. Today's government data showed that Ivory Coast farmers shipped 618,899 MT of cocoa to ports this new marketing year, from October 1 through November 23, down -3.7% from 642,500 MT in the same period a year ago. The Ivory Coast is the world's largest cocoa producer.
