
December ICE NY cocoa (CCZ25) today is up +74 (+1.27%), and December ICE London cocoa #7 (CAZ25) is up +44 (+1.06%).
Cocoa prices are moving higher today as a weaker dollar sparks some short covering in cocoa futures. On Monday, cocoa prices extended their two-month-long decline with NY cocoa falling to a 20-month nearest-futures low and London cocoa posting a 20.5-month nearest-futures low. Cocoa prices remain under pressure due to the outlook for abundant supplies amid weak demand.