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Barchart
Barchart
Rich Asplund

Cocoa Prices Retreat as Overbought Conditions Spark Long Liquidation Pressure

Ice London NY Ivory Coast ICCO United States

May ICE NY cocoa (CCK24) this morning is down -437 (-4.39%), and May ICE London cocoa #7 (CAK24) is down -517 (-6.17%).

Cocoa prices this morning are sharply lower, with NY and London cocoa falling to 1-week lows.  The recent parabolic rally in cocoa has caused prices to reach overbought conditions, sparking some long liquidation pressure today.

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