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Barchart
Barchart
Rich Asplund

Dollar Strength Sparks Long Liquidation in Cocoa Futures

December ICE NY cocoa (CCZ24) today is down -52 (-0.73%), and December ICE London cocoa #7 (CAZ24) is down -5 (-0.10%).

Cocoa prices today turned lower after the dollar index rebounded from a 1-week low to higher on the day, which sparked long liquidation in cocoa futures.  Cocoa prices today initially moved higher on signs of tighter cocoa supplies after ICE-monitored cocoa inventories held in US ports fell to a 15-year low Thursday of 2,420,443 bags.

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