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Rich Asplund

BIZARRE: Shrinking ice inventories give cocoa prices a boost | Mind Blowing Facts

Ice Ghana ICCO Ivory Coast

September ICE NY cocoa (CCU24) today is up +418 (+5.75%), and July ICE London cocoa #7 (CAN24) is up +332 (+4.64%).

Cocoa prices today are sharply higher, recovering most of Thursday's sharp losses. The price movement in cocoa remains highly volatile, and little news can move prices dramatically. Short-covering today pushed prices sharply higher after ICE-monitored cocoa inventories held in US ports fell to a 3-1/3 year low of 3,237,552 bags Wednesday.

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