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Barchart

Rich Asplund

Producer Selling Weighs on Cocoa Prices

Ice Ivory Coast Ghana ICCO StoneX

July ICE NY cocoa (CCN26) on Wednesday closed down -194 (-4.23%), and July ICE London cocoa #7 (CAN26) closed down -159 (-4.63%).

Cocoa prices retreated on Wednesday amid selling pressure from producers who are locking in higher prices after this week's rally to 3.5-month highs. Also, Wednesday's stronger dollar ($DXY) has spurred some long liquidation in cocoa futures.

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