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Barchart
Barchart
Rich Asplund

Dollar Strength Sparks Long Liquidation in Cocoa Futures

Ice London ICCO Ghana NY

Dec ICE NY cocoa (CCZ23) on Wednesday closed -23 (-0.60%), and Dec ICE London cocoa #7 (CAZ23) closed -36 (-1.06%).

Cocoa prices on Wednesday posted moderate losses after a rally in the dollar index to a 4-week high sparked long liquidation in cocoa futures.  On Monday, London cocoa posted an all-time high, and NY cocoa posted a 45-year nearest-futures high on the outlook for tighter global cocoa supplies.

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