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Rich Asplund

UNBELIEVABLE: Cocoa prices soar on concerns about future global supplies | History Defined

Ice ICCO Ivory Coast

March ICE NY cocoa (CCH25) today is up +470 (+5.00%), and March ICE London cocoa #7 (CAH25) is up +282 (+3.72%).

Cocoa prices today are sharply higher, with Mar NY cocoa and Mar London cocoa posting contract highs. Also, nearest-futures (Z24) London cocoa posted a 4-1/2 month high. Cocoa prices are soaring after weather forecaster Maxar Technologies said Wednesday that dry conditions in West Africa would help the current harvest of the main cocoa crop but will hurt the early development of the mid-year cocoa crop harvested in April.

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