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Barchart
Barchart
Rich Asplund

Dollar Strength Undercuts Cocoa Prices

May ICE NY cocoa (CCK26) today is down -11 (-0.36%), and May ICE London cocoa #7 (CAK26) is up +30 (+1.38%).

Cocoa prices are mixed today.  Dollar strength ($DXY) today is weighing on most commodity prices including cocoa.  Losses in cocoa are limited amid concerns that higher shipping costs will curb cocoa exports and limit supplies.  The war in Iran has halted most shipping traffic through the Strait of Hormuz, boosting global shipping rates, insurance, and fuel costs, thereby raising cocoa importers' costs.  

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