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Rich Asplund

Cocoa Prices Retreat as West African Crop Outlook Improves

Ice the Ivory Coast ICCO London

May ICE NY cocoa (CCK26) today is down -97 (-3.00%), and May ICE London cocoa #7 (CAK26) is down -67 (-2.79%).

Cocoa prices are retreating today, falling to 2.5-week lows. Today's stronger dollar is weighing on cocoa prices along with the outlook for a bumper West African cocoa crop. Farmers in the Ivory Coast and Ghana have reported that consistent rains have boosted pod development on cocoa trees.

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