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Rich Asplund

YOU WONT BELIEVE: Cocoa prices rally on global supply concerns - You Need To See This

Ice Ivory Coast NY Ghana ICCO

December ICE NY cocoa (CCZ24) today is up +95 (+1.21%), and December ICE London cocoa #7 (CAZ24) is up +117 (+2.26%).

Cocoa prices today are moderately higher, with NY cocoa posting a 2-week nearest-futures high.  Lower cocoa production in the Ivory Coast, the world's largest producer, supported cocoa prices.  Government data Monday showed that Ivory Coast farmers shipped 1.74 MMT of cocoa to ports from October 1 to September 22, down by -26% from the same time last year.   Also, ICE-monitored cocoa inventories held in US ports have been trending lower for the past 15 months and fell to a 15-year low Tuesday of 2,172,260 bags.

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