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Barchart
Barchart
Rich Asplund

Cocoa Prices Sharply Lower on Improved Supply Outlook

Ice Ivory Coast ICCO London

May ICE NY cocoa (CCK26) on Wednesday closed down -102 (-3.15%), and May ICE London cocoa #7 (CAK26) closed down -74 (-3.08%).

Cocoa prices sold off sharply on Wednesday to 2.5-week lows.  Wednesday's stronger dollar weighed on cocoa prices along with the outlook for a bumper West African cocoa crop.  Farmers in the Ivory Coast and Ghana have reported that consistent rains have boosted pod development on cocoa trees.

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