July ICE NY cocoa (CCN25) today is up +124 (+1.37%), and July ICE London cocoa #7 (CAN25) is up +17 (+0.26%).
Cocoa prices today are moderately higher with NY cocoa posting a 1-1/2 week high and London cocoa posting a 5-week high. Quality concerns regarding the Ivory Coast cocoa mid-crop, which is currently being harvested, is supporting prices. Cocoa processors are complaining about the crop's quality and have rejected truckloads of Ivory Coast cocoa beans. Processors said about 5% to 6% of the mid-crop cocoa in each truckload is poor quality, compared with 1% during the main crop.
