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Rich Asplund

MYSTERIOUS: Cocoa prices consolidate last weeks rally - What They Never Told You

Ice London Ivory Coast NY StoneX

September ICE NY cocoa (CCU26) today is up +77 (+1.33%), and September ICE London cocoa #7 (CAU26) is up +25 (+0.58%).

Cocoa prices are moving higher today as they consolidate below last week’s significant highs. Gains in London cocoa are limited due to the strength of the British pound (^GBPUSD). The pound rallied to a 7-week high today, undercutting cocoa that is priced in sterling.

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