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Barchart
Rich Asplund

REVEALED: Mounting supply concerns underpin cocoa prices | Vintage Vibes

Ice ICCO Ivory Coast

March ICE NY cocoa (CCH25) today is up +16 (+0.16%), and March ICE London cocoa #7 (CAH25) is up +43 (+0.55).

Cocoa prices extended this week's rally today, with Mar NY cocoa and Mar London cocoa posting fresh contract highs.  Also, nearest-futures (Z24) NY cocoa posted a 2-3/4 month high, and nearest-futures (Z24) London cocoa posted a 5-1/2 month high.  Cocoa prices are soaring after weather forecaster Maxar Technologies said Wednesday that dry conditions in West Africa will hurt the early development of the mid-year cocoa crop harvested in April.  Also, the arrival of the seasonal Harmattan winds could worsen the situation.

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