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Barchart
Barchart
Rich Asplund

Cocoa Sharply Lower as a Lack of Liquidity Sparks Volatile Price Moves

Ice Ivory Coast Ghana ICCO NY

July ICE NY cocoa (CCN24) this morning is down -467 (-5.95%), and July ICE London cocoa #7 (CAN24) is down -314 (-4.79%).

Cocoa prices today are sharply lower as the market continues its volatile price swings.  Price moves in cocoa have been amplified by a lack of liquidity, with open interest in cocoa futures near the lowest in over a decade.  Last Friday's weekly Commitment of Traders (COT) report showed long-only positions in NY cocoa futures in the week ending May 7 fell to a four-year low, and short-only positions fell to the lowest in more than nine years.

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