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Barchart
Barchart
Rich Asplund

Cocoa Prices Retreat on Long Liquidation Pressures

May ICE NY cocoa (CCK24) this morning is down -801 (-6.74%), and May ICE London cocoa #7 (CAK24) is down -237 (-2.34%).

Cocoa prices this morning are sharply lower as a stronger dollar has sparked long liquidation pressures in cocoa futures.   Losses in London cocoa are limited after the British pound (^GBPUSD) fell to a 5-1/4 month low today.  The weaker pound boosts cocoa that is priced in terms of sterling.

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