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Barchart
Barchart
Rich Asplund

Cocoa Prices Undercut as Weather Conditions Improve in Ivory Coast

Ice Ivory Coast London ICCO the Ivory Coast Ghana NY

Dec ICE NY cocoa (CCZ23) on Monday closed +2 (+0.05%), and Dec ICE London cocoa #7 (CAZ23) closed -14 (-0.46%).

Cocoa prices Monday gave up early gains and settled mixed, with Dec London cocoa falling back from a contract high and nearest-futures (U23) London cocoa falling back from an all-time high.  Reports of beneficial weather in the Ivory Coast  with a mix of rain and sun that should boost cocoa yields sparked long liquidation and profit-taking in cocoa futures Monday.  

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