December ICE NY cocoa (CCZ24) today is down -363 (-4.73%), and December ICE London cocoa #7 (CAZ24) is down -154 (-2.89%).
Cocoa prices today are sharply lower, with NY cocoa posting a 2-week low and London cocoa posting a 4-week low. Rain in West Africa has boosted the prospects for the region's cocoa crops and is weighing on cocoa prices. Losses in London cocoa were limited today after the British pound (^GBPUSD) fell to a 1-week low, boosting cocoa priced in terms of sterling.
