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Barchart
Rich Asplund

Cocoa Prices Settle Lower on Year-End Fund Liquidation

Ice London ICCO United States British Pound Ghana Ivory Coast

March ICE NY cocoa (CCH24) on Wednesday closed -3 (-0.07%), and Mar ICE London cocoa #7 (CAH24) closed -17 (-0.48%).

NY cocoa prices on Wednesday closed moderately lower on profit-taking and end-of-year positioning by funds.  Losses in London cocoa accelerated after the British pound (^GBPUSD) climbed to a 4-1/2 month high against the dollar.  A stronger pound undercuts cocoa priced in sterling.

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