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Rich Asplund

Dollar Strength and Abundant Supplies Knock Cocoa Prices Lower

Ice the Ivory Coast Ghana ICCO London NY

May ICE NY cocoa (CCK26) on Tuesday closed down -78 (-2.37%), and May ICE London cocoa #7 (CAK26) closed down -51 (-2.06%).

Cocoa prices retreated on Tuesday amid a stronger dollar ($DXY) and signs of abundant supplies after ICE cocoa inventories rose to a 20-month high of 2,632,357 bags on Monday.

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