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Barchart
Rich Asplund

FOUND: Cocoa prices settle higher on shrinking supplies and a slumping dollar - What They Never Told You

Ice NY London Ghana ICCO

December ICE NY cocoa (CCZ24) Friday closed up +159 (+1.96%), and December ICE London cocoa #7 (CAZ24) closed up +212 (+3.98%).

Cocoa prices posted moderate gains on Friday but remained below Thursday's highs when NY cocoa posted a 2-week nearest-futures high and London cocoa posted a 1-month high.  Tightness in cocoa supplies is pushing prices higher.  ICE-monitored cocoa inventories held in US ports have been trending lower for the past 15 months and fell to a 15-year low Thursday of 2,135,872 bags.  Friday's fall in the dollar index to a 14-month low is another bullish factor for most commodity prices, including cocoa.

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