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Barchart
Rich Asplund

NY Cocoa Settles Higher on Tighter ICE Cocoa Inventories

Ice NY ICCO Ivory Coast London Ghana

September ICE NY cocoa (CCU25) on  Thursday closed up +174 (+2.05%), and September ICE London cocoa #7 (CAU25) closed down -21 (-0.38%).

Cocoa prices on Thursday settled mixed, with NY cocoa climbing to a 5-week high.  NY cocoa found support Thursday on signs of tighter supplies after ICE-monitored cocoa inventories held in US ports fell to a 1.75-month low of 2,283,787 bags.   However, London cocoa was under pressure due to the strength in the British pound (^GBPUSD), which rallied to a 1.5-week high on Thursday, undercutting cocoa that is priced in terms of sterling.  

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