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Rich Asplund

Cocoa Prices Slip on Improved Weather Conditions in West Africa

Ice West Africa Ivory Coast Ghana ICCO

September ICE NY cocoa (CCU24) today is down -3 (-0.04%), and September ICE London cocoa #7 (CAU24) is down -142 (-2.17%).

Cocoa prices today are under pressure. Improved weather conditions in West Africa should boost the region's cocoa yields and is negative for prices. Cocoa farmers in the Ivory Coast said they returned to their fields after heavy rains eased, and cocoa farmers in Ghana reported that recent rain has improved soil moisture levels and has boosted cocoa pod production.

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