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Barchart
Barchart
Rich Asplund

UNBELIEVABLE: Cocoa settles sharply lower as volatile price moves continue - Caught on Camera

Ice Ivory Coast Ghana ICCO NY

July ICE NY cocoa (CCN24) on Thursday closed down -450 (-5.74%), and July ICE London cocoa #7 (CAN24) closed down -325 (-4.96%).

Cocoa prices posted sharp losses on Thursday as the market continued its volatile price swings.  Price moves in cocoa have been amplified by a lack of liquidity, with open interest in cocoa futures near the lowest in over a decade.  Last Friday's weekly Commitment of Traders (COT) report showed long-only positions in NY cocoa futures in the week ending May 7 fell to a four-year low, and short-only positions fell to the lowest in more than nine years.

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