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Rich Asplund

Dollar Strength Spurs Long Liquidation in Cocoa Futures

Ice London Ivory Coast Ghana ICCO StoneX

July ICE NY cocoa (CCN26) today is down -121 (-2.57%), and July ICE London cocoa #7 (CAN26) is down -51 (-1.46%).

Cocoa prices are sliding today, giving back some of their recent rally as a stronger dollar ($DXY) sparked long liquidation in cocoa futures. Losses in London cocoa are limited after the British pound (^GBPUSD) fell to a 1.5-week low today, supporting cocoa priced in sterling.

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