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Rich Asplund

Dollar Weakness Spurs Short Covering in Cocoa Futures

Ice ICCO the Ivory Coast Ghana the International Cocoa Organization

March ICE NY cocoa (CCH26) today is up +118 (+3.98%), and March ICE London cocoa #7 (CAH26) is up +137 (+6.44%).

Cocoa prices are sharply higher today as dollar weakness spurred technical short covering in cocoa futures, after cocoa prices reached deeply oversold levels following this week's plunge.

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