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Barchart
Barchart
Rich Asplund

Cocoa Prices Surge on Ever Tighter Global Supplies

Ice NY London ICCO Ivory Coast

Dec ICE NY cocoa (CCZ23) on Wednesday closed +77 (+2.11%), and Dec ICE London cocoa #7 (CAZ23) closed +51 (+1.68%).

Dec NY cocoa and Dec London cocoa on Wednesday climbed to contract highs and closed sharply higher on concerns about global cocoa production.  Nearest-futures Sep NY cocoa rallied to a 44-year high, and Sep London cocoa posted a record high on fund short covering as both contracts expire on Thursday.  

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