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Barchart
Barchart
Rich Asplund

REVEALED: Cocoa prices rally on deficit forecast | Vintage Vibes

December ICE NY cocoa (CCZ24) today is up +5.32%, and December ICE London cocoa #7 (CAZ24) is up +6.36%.

Cocoa prices rallied sharply today and continued to recover from last week's lows when NY cocoa posted an 8-month nearest-futures low and London cocoa posted a 3-week low.  Cocoa prices are seeing support from heavy rain in some areas of Africa's cocoa-growing region, which obstructed access to fields and fostered cocoa disease.  

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