Dec ICE NY cocoa (CCZ23) on Thursday closed +9 (+0.25%), and Dec ICE London cocoa #7 (CAZ23) closed +37 (+1.16%).
Cocoa prices on Thursday posted moderate gains, with NY cocoa climbing to a 1-month high and London cocoa climbing to a new all-time high. Tight inventories are boosting cocoa prices as ICE-monitored cocoa inventories held in U.S. ports have declined steadily over the past four months to a 1-1/2 year low Thursday. London cocoa extended its gains Thursday after the British pound (^GBPUSD) fell to a 2-week low against the dollar. The weaker pound boosts cocoa priced in sterling.
