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Barchart
Barchart
Rich Asplund

NY Cocoa Higher on Dollar Weakness

Ice NY ICCO London Commitment of Traders Ivory Coast

May ICE NY cocoa (CCK23) on Wednesday closed up +27 (+0.86%), and May ICE London cocoa #7 (CAK23) closed down -1 (-0.04%).

Cocoa prices Wednesday settled mixed, with London cocoa falling to a 1-week low.  A decline in the dollar index (DXY00) Wednesday to a 1-1/2 week low supported NY cocoa.  However, a rally in the British pound (^GBPUSD) Wednesday to a 1-1/2 week high weighed on London cocoa as a stronger pound undercuts cocoa priced in terms of sterling.  

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