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Barchart
Barchart
Rich Asplund

Cocoa Prices Settle Moderately Higher on Supply Concerns

July ICE NY cocoa (CCN25) Thursday closed up +250 (+2.81%), and May ICE London cocoa #7 (CAK25) closed up +59 (+0.93%).

Cocoa prices on Thursday settled moderately higher but remained below Wednesday's significant highs.  On Wednesday, NY cocoa posted a 2-1/2 month high, and London cocoa posted a 2-1/2 week high on supply concerns.  Recent Ivory Coast cocoa exports have slowed, supporting prices.  Tuesday's government data showed that Ivory Coast farmers shipped 1.48 MMT of cocoa to ports this marketing year from October 1 to April 20, up +11.3% from last year but down from the much larger 35% rise seen in December.

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