July ICE NY cocoa (CCN25) today is down -406 (-4.57%), and July ICE London cocoa #7 (CAN25) is not trading today, with markets in the UK closed for the May Day holiday.
Cocoa prices today are sharply lower on signs that improved weather conditions in West Africa are benefitting the cocoa crops in the Ivory Coast and Ghana, the world's two largest cocoa producers. Cocoa farmers in the Ivory Coast reported, "Cocoa trees continue to re-flower, and the cherelles are becoming pods." Ghana farmers said recent rains have improved the conditions of their crops.
