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Barchart
Barchart
Rich Asplund

Cocoa Prices Slump on Rain in West Africa and Higher ICE Inventories

Ice West Africa Vaisala ICCO Ivory Coast Ghana London NY

July ICE NY cocoa (CCN25) today is down -427 (-3.98%), and July ICE London cocoa #7 (CAN25) is down -355 (-4.76%).

Cocoa prices today fell sharply to 1-week lows.  Expectations for favorable rain in West Africa to aid cocoa crop development are weighing on cocoa prices.  Meteorologist Vaisala said today that moderate showers are expected to continue for the rest of this week in the cocoa-growing regions of West Africa.

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