Dec ICE NY cocoa (CCZ23) on Friday closed +31 (+0.90%), and Sep ICE London cocoa #7 (CAU23) closed +51 (+1.87%).
Cocoa prices Friday moved higher, with London cocoa climbing to a 1-1/2 month high. Tightness in current cocoa supplies is supportive for prices after ICE monitored cocoa inventories held in U.S. ports have steadily declined over the past three months to a 5-month low Friday. Gains in London cocoa accelerated Friday after the British pound (^GBPUSD) fell to a 2-1/2 month low. The weaker pound boosts cocoa that is priced in sterling.
