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Rich Asplund

HISTORICAL FACTS: Cocoa prices whipsaw sharply higher as volatility continues - The Untold Story

Ice NY London Ivory Coast British Pound ICCO

July ICE NY cocoa (CCN24) this morning is up +561 (+7.42%), and July ICE London cocoa #7 (CAN24) is up +348 (+5.31%).

Cocoa prices this morning recovered from 6-week lows and are sharply higher.  Gains in London cocoa were smaller than that of NY cocoa after the British pound (^GBPUSD) today rallied to a 3-week high.  The stronger pound undercuts cocoa priced in terms of sterling.

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