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Rich Asplund

Cocoa Rallies on Reports of Weather Damage to Ivory Coast Cocoa Trees

COCOA Ice Ivory Coast London the Ivory Coast ICCO NY United States

December ICE NY cocoa (CCZ24) Thursday closed up +109 (+1.31%), and December ICE London cocoa #7 (CAZ24) closed up +137 (+1.90%).

Cocoa prices Thursday settled moderately higher, with London cocoa posting a 4-month nearest-futures high. The impact of recent heavy rains on the Ivory Coast is pushing cocoa prices higher, based on reports of high mortality rates of cocoa buds on trees because of the heavy rain.

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