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Barchart
Barchart
Rich Asplund

THE TRUTH ABOUT: Cocoa prices move higher on global supply concerns | History Defined

Ice NY Ghana Ivory Coast London United States West Africa ICCO

September ICE NY cocoa (CCU24) Thursday closed up +107 (+1.12%), and September ICE London cocoa #7 (CAU24) closed unchanged.

NY cocoa prices Thursday settled moderately higher.  Dry weather in West Africa could curb the region's cocoa production and pushed NY cocoa prices to a 2-month high Wednesday.  Forecaster Maxar Technologies recently said that top cocoa-producing countries Ivory Coast and Ghana had seen a "significant decrease in shower activity" over the past month, leading to below-normal soil moisture and limited crop growth.

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