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Barchart
Barchart
Rich Asplund

Drier West African Weather Forecasts and Tighter Inventories Lift Cocoa Prices

Ice Ivory Coast West Africa ICCO Ghana London Nigeria

December ICE NY cocoa (CCZ25) today is up +241 (+3.17%), and September ICE London cocoa #7 (CAU25) is up +82 (+1.531%).

Cocoa prices are sharply higher today as updated weather forecasts reduced the chances for rain in the Ivory Coast this week. Cocoa prices also have support from tighter inventories.  ICE-monitored cocoa inventories held in US ports fell to a 2.75-month low of 2,183,874 bags on Tuesday.

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