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Rich Asplund

Cocoa Settles Sharply Higher as Dry Weather Threatens the West African Mid-Crop

Ice West Africa Maxar Technologies London ICCO Ivory Coast

March ICE NY cocoa (CCH25) Wednesday closed up +363 (+4.02%), and March ICE London cocoa #7 (CAH25) closed up +198 (+2.68%).

Cocoa prices Wednesday settled sharply higher and recovered most of Tuesday's losses. Cocoa prices rallied Wednesday after weather forecaster Maxar Technologies said dry conditions in West Africa would help the current harvest of the main cocoa crop but will hurt the early development of the mid-year cocoa crop harvested in April.

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