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Barchart
Barchart
Rich Asplund

UNCOVERED: Cocoa prices correct higher from their month long decline | History Defined

July ICE NY cocoa (CCN24) today is +126 (+1.70%), and July ICE London cocoa #7 (CAN24) is up +116 (+1.90%).

Cocoa prices today are moving moderately higher for a second day.  Prices are correcting upward from the month-long decline to Monday's 2-1/2 month lows.  Short covering in cocoa futures has emerged after the Hightower Report on Tuesday warned that West African cocoa farmers' lack of fertilizer and pesticide use will hurt cocoa production during the 2024/25 season.

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