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Barchart
Barchart
Rich Asplund

Cocoa Rallies on Dollar Weakness and Global Supply Concerns

Ice ICCO NY London Ivory Coast

July ICE NY cocoa (CCN23) on Tuesday closed up +50 (+1.59%), and July ICE London cocoa #7 (CAK23) closed up +54 (+2.21%).

Cocoa prices Tuesday moved higher, with NY cocoa posting a 5-week nearest-futures high and London cocoa posting a 6-3/4 year high.  A slump in the dollar index (DXY00) Tuesday to a 3-week low was bullish for cocoa prices.

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