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Rich Asplund

Cocoa Prices Retreat as Rain in West Africa Could Boost the Ivory Coast Mid-Crop

Ice Ivory Coast West Africa ICCO

May ICE NY cocoa (CCK24) this morning is down -146 (-2.22%), and May ICE London cocoa #7 (CAK24) is down -85 (-1.53%).

Cocoa prices this morning are moderately lower. Forecasts for rain this week in West Africa could benefit the Ivory Coast cocoa mid-crop and sparked some long liquidation in cocoa futures today. Ivory Coast cocoa farmers will begin the mid-crop cocoa harvest next month.

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