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Rich Asplund

SHOCKING: Cocoa prices give up an early advance amid dollar strength | Mind Blowing Facts

Ice Ivory Coast Ghana ICCO StoneX

July ICE NY cocoa (CCN26) today is down -10 (-0.24%), and July ICE London cocoa #7 (CAN26) is down -7 (-0.22%).

Cocoa prices fell from 1.5-week highs today and turned lower after the dollar index ($DXY) recovered from early losses and moved higher, which spurred long liquidation in cocoa futures. Also, signs of abundant cocoa supplies are negative for prices, as ICE cocoa inventories rose to a 1.75-year high of 2,745,277 bags on Tuesday.

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