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Barchart
Rich Asplund

Dollar Strength Weighs on Cocoa Prices

Ice ICCO NY London Ivory Coast United Kingdom

July ICE NY cocoa (CCN23) on Monday closed down -5 (-0.17%), and July ICE London cocoa #7 (CAK23) did not trade with markets in the UK closed for the May Day holiday.

NY cocoa on Monday posted moderate losses on the rally in the dollar index to a 1-1/2 week high.  Also, an increase in inventories is negative for prices after ICE-monitored cocoa inventories held in U.S. port warehouses rose to a 3-1/2 month high of 5,472,657 bags on Monday.  

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