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Barchart
Rich Asplund

Cocoa Prices Surge on Renewed Supply Fears

Ice ICCO London NY Ivory Coast West Africa Ghana

July ICE NY cocoa (CCN25) today is up +633 (+6.17%), and July ICE London cocoa #7 (CAN25) is up +385 (+5.24%).

Cocoa prices are soaring today, with NY cocoa posting a 3-1/4 month nearest-futures high and London cocoa posting a 3-month high.  Weather concerns in West Africa are the latest bullish factor to push cocoa prices sharply higher.  Despite the recent rains in West Africa, drought still covers more than a third of Ghana and the Ivory Coast, according to the African Flood and Drought Monitor.

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