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Barchart
Barchart
Rich Asplund

Cocoa Rallies as Heavy West African Rain Disrupts the Cocoa Harvest

Ice West Africa NY ICCO United States

December ICE NY cocoa (CCZ24) today is up +339 (+4.45%), and December ICE London cocoa #7 (CAZ24) is up +155 (+2.75%).

Cocoa prices today are sharply higher, with NY cocoa posting a 2-week high.   Cocoa prices are climbing as heavy rain in West Africa has caused flooding and keeps cocoa farmers out of their fields, delaying the cocoa harvest.  Also, the heavy rain makes it harder to dry harvested beans, lowering their quality.

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