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Rich Asplund

Cocoa Prices Sharply Lower on Ideal Crop Conditions in West Africa

Ice West Africa ICCO Ivory Coast Maxar Technologies Ghana

September ICE NY cocoa (CCU24) today is down -380 (-4.71%), and September ICE London cocoa #7 (CAU24) is down -258 (-3.90%).

Cocoa prices today gave up an early advance and turned sharply lower on improved growing conditions in West Africa that could boost cocoa yields. Forecaster Maxar Technologies said showers are expected to continue this week in most of the cocoa-growing regions of West Africa, "keeping soil moisture favorable for crop growth."

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