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Rich Asplund

Rain in West Africa Weighs on Cocoa Prices

Ice West Africa Maxar Technologies Ivory Coast Ghana ICCO London NY

December ICE NY cocoa (CCZ24) Thursday closed down -128 (-1.65%). September ICE London cocoa #7 (CAU24) closed down -92 (-1.62%).

Cocoa prices posted moderate losses on Thursday as forecasts for rain in West Africa improved the region's cocoa crop prospects. Forecaster Maxar Technologies said that current rain in West Africa is expected to continue through the weekend, boosting soil moisture levels and cocoa yields.

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