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Barchart
Barchart
Rich Asplund

Cocoa Prices See Support from Expectations for Index-Related Buying

Ice ICCO NY European Union the International Cocoa Organization

March ICE NY cocoa (CCH26) today is up +52 (+0.89%), and March ICE London cocoa #7 (CAH26) is down -15 (-0.35%).

NY cocoa prices are higher amid expectations for index-related buying tied to the addition of cocoa futures to the Bloomberg Commodity Index (BCOM) starting in January.  According to Citigroup, the inclusion of cocoa in the BCOM may lure as much as $2 billion of buying of NY cocoa futures.

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