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Rich Asplund

FOUND: Cocoa prices fall as the dollar strengthens - You Need To See This

Ice ICCO Ghana Nigeria West Africa Ivory Coast London

December ICE NY cocoa (CCZ25) on Friday closed down -108 (-1.43%), and December ICE London cocoa #7 (CAZ25) closed down -90 (-1.73%).

Cocoa prices settled lower on Friday after a stronger dollar (DXY00) prompted long liquidation in cocoa futures. Cocoa prices had climbed to 1-week highs on Thursday due to weather concerns in West Africa. Heavy rain in the Ivory Coast has kept farmers out of cocoa fields and reduced the movement of cocoa from plantations to ports. Also, dryness in Ghana and Nigeria has damaged some crops, as cocoa pods have withered from a lack of precipitation.

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