Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Rich Asplund

Forecasts for Rain in West Africa Sparks Long Liquidation in Cocoa

May ICE NY cocoa (CCK24) on Friday closed down -56 (-0.87%), and May ICE London cocoa #7 (CAK24) closed down -119 (-2.22%).

Cocoa prices on Friday extended Thursday's losses and posted 1-week lows as forecasts for rain in West Africa sparked long liquidation in cocoa futures.  Losses in London cocoa accelerated after the British pound (^GBPUSD) on Friday rallied to a 7-1/2 month high, which undercut London cocoa that is priced in terms of sterling.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.