
July ICE NY cocoa (CCN24) today is down -527 (-4.88%), and July ICE London cocoa #7 (CAN24) is down -218 (-2.41%).
Cocoa prices today are sharply lower. Long liquidation emerged in cocoa futures today after the dollar index (DXY00) rallied to a 5-week high. Also, heightened political turmoil in France has led to a risk-off mood in asset markets today and is weighing on cocoa prices. Losses in London cocoa were limited after the British pound (^GBPUSD) fell to a 4-week low, which boosts cocoa that is priced in terms of sterling.