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Barchart
Barchart
Rich Asplund

Cocoa Prices Sharply Lower on Improved West African Cocoa Crop Prospects

July ICE NY cocoa (CCN25) Thursday closed down -524 (-5.44%), and July ICE London cocoa #7 (CAN25) closed down -305 (-4.69%).

Cocoa prices on Thursday extended their week-long selloff, with NY cocoa falling sharply to a 2-1/2 week low and London cocoa sinking to a 3-week low.  Cocoa prices are under pressure due to favorable weather in West Africa, which is expected to aid cocoa crop development in the world's largest cocoa-growing region.  

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