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Barchart
Barchart
Rich Asplund

NY Cocoa Falls Back from a 45-Year High on Dollar Strength

Ice NY ICCO London Ghana

Dec ICE NY cocoa (CCZ23) on Tuesday closed -31 (-0.79%), and Dec ICE London cocoa #7 (CAZ23) closed +9 (+0.27%).

Cocoa prices on Tuesday settled mixed.  NY cocoa Tuesday fell back from a new 45-year nearest futures high and closed moderately lower as a stronger dollar (DXY00) sparked long liquidation in cocoa futures.  London cocoa Tuesday closed slightly higher due to a -0.36% decline in the British pound (^GBPUSD) as the weaker pound boosts cocoa priced in terms of sterling.  

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