
May ICE NY cocoa (CCK25) today is up +693 (+8.94%), and May ICE London cocoa #7 (CAK25) is up +356 (+6.20%).
Cocoa prices today recovered from early losses and are sharply higher as dollar weakness (DXY00) sparked short covering in cocoa futures. Cocoa prices today initially moved lower, with NY cocoa falling to a 3-week low and London cocoa dropping to a 5-month low. Global trade war fears are weighing on cocoa prices on concern that consumer demand for cocoa and cocoa products will decline as the global trade war escalates and tariffs boost already-high cocoa prices.