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Barchart
Barchart
Rich Asplund

Cocoa Prices Supported by Supply Concerns

July ICE NY cocoa (CCN25) today is up +15 (+0.17%), and May ICE London cocoa #7 (CAK25) is up +27 (+0.43%).

Cocoa prices today recovered from early losses and turned slightly higher on some mild short covering.  Cocoa prices today initially moved lower on negative carryover from Monday when Bloomberg reported that Nigerian Mar cocoa exports rose +24% y/y to 27,564 MT.  Nigeria is the world's fifth-largest cocoa producer.

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