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Barchart
Barchart
Rich Asplund

Dollar Weakness Spurs Short Covering in Cocoa Futures

Ice ICCO London Ivory Coast Ghana NY

July ICE NY cocoa (CCN25) today is up +134 (+1.37%), and July ICE London cocoa #7 (CAN25) is up +50 (+0.77%).

Cocoa prices today are moving higher as dollar weakness has sparked some short covering in cocoa futures.  Gains in London cocoa are muted today after the British pound (^GBPUSD) rose to a 1-week high, undercutting cocoa that is priced in terms of sterling.

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