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Barchart
Barchart
Rich Asplund

EXPLAINED: Dollar weakness and tighter ice inventories lift cocoa prices - The Real Truth

December ICE NY cocoa (CCZ25) on Wednesday closed up +123 (+1.63%), and December ICE London cocoa #7 (CAZ25) closed unchanged.

Cocoa prices moved higher on Wednesday as a weaker dollar (DXY00) sparked some short covering in cocoa futures.  Also, tighter cocoa inventories are supportive for prices as ICE-monitored cocoa inventories held in US ports fell to a 3.5-month low of 2,152,022 bags on Wednesday.

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