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Barchart
Barchart
Rich Asplund

Dollar Weakness Sparks Short-Covering in Cocoa Futures

Ice Ivory Coast StoneX

July ICE NY cocoa (CCN26) on Monday closed up +103 (+2.73%), and July ICE London cocoa #7 (CAN26) closed up +86 (+2.98%).

Cocoa prices jumped to 1.5-week highs on Monday and settled sharply higher as dollar weakness sparked short covering. The dollar index ($DXY) fell to a 1-week low on Monday, a supportive factor for most commodity prices.

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