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Rich Asplund

Easing Supply Concerns Pressures Cocoa Prices

Ice Ivory Coast London ICCO NY

July ICE NY cocoa (CCN24) on Monday closed down -132 (-1.80%), and July ICE London cocoa #7 (CAN24) closed down -133 (-2.17%).

Cocoa prices on Monday extended their month-long slide to 2-1/2 month lows and fell by more than 44% from last month's record highs. Losses in cocoa accelerated Monday after prices dropped below the 100-day moving average, triggering technical selling.

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