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Barchart
Barchart
Rich Asplund

Resilient North American Q2 Cocoa Demand Sparks Short Covering in Cocoa Futures

September ICE NY cocoa (CCU25) on Friday closed up +491 (+6.72%), and September ICE London cocoa #7 (CAU25) closed up +245 (+5.10%).

Cocoa prices on Friday settled sharply higher after short covering emerged when North American Q2 cocoa grindings did not decline as much as those in Europe and Asia.  North American Q2 cocoa grindings fell -2.8% y/y to 101,865 MT.

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