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Barchart
Barchart
Rich Asplund

MYSTERIOUS: Cocoa prices supported by tight global supplies - What They Never Told You

Ice Ivory Coast ICCO NY

July ICE NY cocoa (CCN24) this morning is up +47 (+0.55%), and July ICE London cocoa #7 (CAN24) is up +15 (+0.20%).

Cocoa prices this morning are moderately higher as a global cocoa shortfall persists.  Extreme volatility in cocoa prices has gripped the market since prices soared to an all-time high last month.  The recent volatility in cocoa prices has made it more expensive to maintain positions in cocoa futures as margins have sharply increased, prompting traders to close out trades, which drains liquidity and makes the market more vulnerable to large price swings.  

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