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Rich Asplund

Cocoa Prices Slide on Favorable Growing Conditions in West Africa

Ice Ghana Ivory Coast ICCO the Ivory Coast London Deficit

September ICE NY cocoa (CCU24) today is down -42 (-0.54%), and July ICE London cocoa #7 (CAN24) is up +39 (+0.50%).

Cocoa prices today are mixed. Cocoa is under pressure from reports of beneficial growing weather in the Ivory Coast and Ghana that should boost cocoa production. However, London cocoa is higher on the decline in the British pound (^GBPUSD) to a 6-week low, which boosted London cocoa since it is priced in terms of sterling.

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