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Barchart
Barchart
Rich Asplund

Cocoa Recovers Some Ground After Tuesday’s Sharp Drop on Beneficial West African Weather

Ice West Africa London Ghana

September ICE NY cocoa (CCU26) is up +88 (+1.59%), and September ICE London cocoa #7 (CAU26) is up +35 (+0.86%).

Cocoa prices are trading higher today, retracing some of the sharp declines seen on Tuesday, when Sep ICE NY cocoa fell -4.78% and London cocoa fell -4.21%. Cocoa prices plunged on Tuesday due to reports of exceptional growing conditions in the Ivory Coast and Ghana, which have boosted new flowering on cocoa trees ahead of the start of the main crop harvest next month.

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