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Rich Asplund

Cocoa Prices Sharply Lower as West African Rain Sparks Long Liquidation

Ice West Africa London Cocoa NY Cocoa Ivory Coast CFTC Deficit ICCO London Maxar Technologies

March ICE NY cocoa (CCH25) Thursday closed down -538 (-4.58%), and March ICE London cocoa #7 (CAH25) closed down -367 (-3.99%).

Cocoa prices Thursday dropped to 1-1/2 week lows and settled sharply lower as recent rain in West Africa has boosted soil moisture levels, eased dry conditions, and sparked long liquidation in cocoa futures.  

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