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Rich Asplund

Cocoa Prices Settle Sharply Higher Amid a Lack of Liquidity

Ice London NY Ivory Coast British Pound ICCO

July ICE NY cocoa (CCN24) on Friday closed up +582 (+7.70%), and July ICE London cocoa #7 (CAN24) closed up +332 (+5.06%).

Cocoa prices recovered from 6-week lows on Friday and rallied sharply. Gains in London cocoa were smaller than that of NY cocoa after the British pound (^GBPUSD) Friday rose to a 3-week high. The stronger pound undercuts cocoa priced in terms of sterling.

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