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Rich Asplund

Cocoa Prices Turn Lower as Dollar Strength Sparks Long Liquidation

Ice London Ghana ICCO NY

December ICE NY cocoa (CCZ24) today is down -65 (-0.83%), and December ICE London cocoa #7 (CAZ24) is down -88 (-1.63%).

Cocoa prices today gave up an early advance and turned lower as a stronger dollar sparked long liquidation in cocoa futures. Losses in London coca accelerated today after the British pound (^GBPUSD) rallied to a 2-1/2 year high, undercutting cocoa priced in terms of sterling.

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