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Barchart
Rich Asplund

Cocoa Prices Soar on Global Supply Concerns

Ice Ivory Coast London StoneX

September ICE NY cocoa (CCU26) today is up +337 (+7.26%), and July ICE London cocoa #7 (CAN26) is up +239 (+6.85%).

Cocoa prices extended their two-week rally today, soaring to 5-month highs. Cocoa prices are supported by heavy rains in the Ivory Coast, which have flooded roads and cut off farmers’ access to farms and ports, threatening global supplies. Excessive moisture also increases the risk of brown rot disease on cocoa trees, reducing yields and jeopardizing the harvest.

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