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Rich Asplund

SHOCKING: Cocoa prices stabilize above recent lows | Mind Blowing Facts

Ice ICCO London Hershey Ivory Coast Mondelez

May ICE NY cocoa (CCK25) Thursday closed down -65 (-0.81%), and May ICE London cocoa #7 (CAK25) closed down -91 (-1.45%).

Cocoa prices Thursday settled moderately lower as they consolidated above recent lows.  Since posting 4-1/2 month lows last Friday, cocoa prices have traded sideways.  Losses in London cocoa accelerated Thursday when the British pound (^GBPUSD) rose to a 1-week high, undercutting cocoa that is priced in terms of sterling.  

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