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Rich Asplund

Long Liquidation and Elevated ICE Inventories Weigh on Cocoa Prices

Ice Ivory Coast London StoneX United States

September ICE NY cocoa (CCU26) on Thursday closed down -56 (-1.10%), and September ICE London cocoa #7 (CAU26) closed down -71 (-1.86%).

Cocoa prices settled lower on Thursday amid some pre-weekend liquidation and position squaring, as US markets will be closed on Friday for a holiday. Losses in London cocoa accelerated on Thursday after the British pound (^GBPUSD) rose to a 2-week high. The stronger pound undercuts cocoa priced in sterling.

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