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Barchart
Rich Asplund

Favorable West African Weather Weighs on Cocoa Prices

Ice West Africa ICCO Ghana Nigeria Ivory Coast London NY

December ICE NY cocoa (CCZ25) on Thursday closed down -152 (-2.06%), and December ICE London cocoa #7 (CAZ25) closed down -87 (-1.71%).

Cocoa prices dropped to 1-week lows on Thursday and settled sharply lower.  Cocoa has been under pressure over the past three sessions as rain in West Africa has eased dry conditions that may promote flowering of cocoa trees, which could boost the region's cocoa output.  

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