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Barchart

Rich Asplund

FOUND: Risk off sentiment in commodities weighs on cocoa prices | Mind Blowing Facts

NY London Ivory Coast US Federal Reserve ICCO Ghana

Dec ICE NY cocoa (CCZ23) on Wednesday closed -72 (-1.98%), and Dec ICE London cocoa #7 (CAZ23) closed -66 (-2.16%).

Cocoa prices Wednesday closed sharply lower, with NY cocoa falling to a 3-week low and London cocoa dropping to a 1-1/2 week low. Concerns that the Fed would signal higher interest rates for longer at Wednesday's FOMC meeting sparked a risk-off mood across the commodity markets.

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