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Rich Asplund

Flooded Ivory Coast Fields Boost Cocoa Prices

Ice Ivory Coast Africa ICCO JPMorgan London

December ICE NY cocoa (CCZ24) today is up +85 (+1.17%), and December ICE London cocoa #7 (CAZ24) is up +28 (+0.48%).

Cocoa prices today extended Tuesday's sharp rally and posted 1-week highs. Cocoa prices are seeing support from heavy rain in some areas of Africa's cocoa-growing region, which has caused flooding, obstructed access to fields, and fostered cocoa disease.

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