
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.