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Rich Asplund

Cocoa Prices Settle Slightly Higher on West African Cocoa Crop Concerns

COCOA Ice West Africa Mar London London ICCO Ivory Coast

March ICE NY cocoa (CCH25) Wednesday closed up +20 (+0.19%), and March ICE London cocoa #7 (CAH25) closed up +12 (+0.14%).

Cocoa prices Wednesday settled slightly higher, with Mar London cocoa climbing to a new contract high and nearest-futures NY cocoa (Z24) posting a 6-month high. Cocoa prices have rallied sharply over the past 6 weeks, with Mar NY cocoa posting a contract high Tuesday and nearest-futures London cocoa (Z24) posting a 5-3/4 month high. Gains in cocoa were limited Wednesday after the dollar index (DXY00) rallied to a 2-week high.

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