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Barchart
Rich Asplund

NY Cocoa Prices Gain as Supplies Tighten

Ice NY ICCO Ivory Coast London Ghana

September ICE NY cocoa (CCU25) today is up +197 (+2.33%), and September ICE London cocoa #7 (CAU25) is down -38 (-0.69%).

Cocoa prices today are mixed, with NY cocoa climbing to a 5-week high.  NY cocoa found support today on signs of tighter supplies after ICE-monitored cocoa inventories held in US ports fell to a 1-month low Wednesday of 2,298,448 bags.   However, London cocoa is under pressure due to strength in the British pound (^GBPUSD), which rallied to a 1.5-week today, undercutting cocoa that is priced in terms of sterling.  

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