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Rich Asplund

The Outlook for a Bumper West African Cocoa Crop Weighs on Prices

Ice the Ivory Coast ICCO

May ICE NY cocoa (CCK26) today is down -62 (-1.9-%), and May ICE London cocoa #7 (CAK26) is down -40 (-1.66%).

Cocoa prices are moving lower today, but remain above last Friday's 2-week low. The outlook for a bumper West African cocoa crop is weighing on prices, as farmers in the Ivory Coast and Ghana have reported that consistent rains have boosted pod development on cocoa trees.

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