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Barchart
Rich Asplund

Cocoa Prices Trade Sideways Above Recent Lows

Ice ICCO London Hershey Ivory Coast Mondelez

May ICE NY cocoa (CCK25) today is down -29 (-0.36%), and May ICE London cocoa #7 (CAK25) is down -63 (-1.01%).

Cocoa prices today are moderately lower as they consolidate above recent lows.  Since posting 4-1/2 month lows last Friday, cocoa prices have traded sideways.  Losses in London cocoa accelerated today when the British pound (^GBPUSD) rose to a 1-week high, undercutting cocoa that is priced in terms of sterling.  

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