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Barchart
Rich Asplund

Rising ICE Cocoa Inventories Undercut Cocoa Prices

Ice ICCO NY Ivory Coast Ghana London

July ICE NY cocoa (CCN25) Tuesday closed down -100 (-0.91%), and July ICE London cocoa #7 (CAN25) closed down -12 (-0.16%).

Cocoa prices on Tuesday gave up an early advance and turned lower, with NY cocoa falling from a 3-1/2 month nearest-futures high.  An increase in cocoa inventories sparked long liquidation in cocoa futures Tuesday after ICE-monitored cocoa inventories held in US ports climbed to a 7-3/4 month high Monday of 2,156,644 bags.

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