July ICE NY cocoa is down 3 points (-0.07%) and July ICE London cocoa is down 9 points (-0.29%) as rising supplies pressure prices. ICE cocoa inventories climbed to a 1.75-year high of 2,779,1037 bags on Wednesday, reinforcing the bearish supply backdrop. The move appears incremental but negative for cocoa futures in the near term.
July ICE NY cocoa is down 3 points (-0.07%) and July ICE London cocoa is down 9 points (-0.29%) as rising supplies pressure prices. ICE cocoa inventories climbed to a 1.75-year high of 2,779,1037 bags on Wednesday, reinforcing the bearish supply backdrop. The move appears incremental but negative for cocoa futures in the near term.
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mildly negative
Sentiment Score
-0.20
