
May ICE NY cocoa (CCK24) on Thursday closed down -97 (-1.48%), and May ICE London cocoa #7 (CAK24) closed down -119 (-2.18%).
Cocoa prices on Thursday retreated as forecasts for rain in West Africa are positive for cocoa yields. Losses in London cocoa accelerated after the British pound (^GBPUSD) Thursday rallied to a 2-1/4 month high, which undercut London cocoa that is priced in terms of sterling.