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Rich Asplund

Short Covering Lifts Cocoa Prices Higher Ahead of Holiday Weekend

Ice the Ivory Coast Ghana ICCO London StoneX United States

July ICE NY cocoa (CCN26) on Friday closed up +29 (+0.77%), and July ICE London cocoa #7 (CAN26) closed up +10 (+0.45%).

Cocoa prices recovered from 2.5-week lows on Friday and settled higher as short covering emerged ahead of the long holiday weekend, with markets in the US and UK closed on Monday.

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