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Barchart
Barchart
Rich Asplund

HISTORICAL FACTS: Cocoa prices underpinned by shrinking supplies | History Defined

December ICE NY cocoa (CCZ24) today is up +128 (+1.58%), and December ICE London cocoa #7 (CAZ24) is up +170 (+3.19%).

Cocoa prices today are moving higher but remain 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.

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