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Barchart
Rich Asplund

Cocoa Prices Tumble as ICE Exchange Seeks to Tame Volatility

Ice COCOA Intercontinental Exchange London Cocoa NY Cocoa Ivory Coast London Ghana ICCO

March ICE NY cocoa (CCH25) today is down -789 (-7.04%), and March ICE London cocoa #7 (CAH25) is down -506 (-5.62%).

Cocoa prices today tumbled to 1-week lows after Intercontinental Exchange (ICE) took action in an attempt to curb market volatility.  Long liquidation emerged in cocoa futures today after ICE Futures Europe tightened the London cocoa accountability levels, requiring traders to disclose more information about their positions if they exceed certain levels starting January 13.  Losses in London cocoa were limited today after the British pound (^GBPUSD) sank to an 8-1/2 month low.  The weaker pound boosts cocoa that is priced in terms of sterling.

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