ICE cocoa futures fell sharply, with May NY cocoa down 93 points (-2.61%) and May London cocoa down 75 points (-2.87%) after hitting 1.75-month highs. The decline appears driven by hedge selling from cocoa producers and traders following the recent rally, with additional pressure likely from Ivory Coast supply developments.
ICE cocoa futures fell sharply, with May NY cocoa down 93 points (-2.61%) and May London cocoa down 75 points (-2.87%) after hitting 1.75-month highs. The decline appears driven by hedge selling from cocoa producers and traders following the recent rally, with additional pressure likely from Ivory Coast supply developments.
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mildly negative
Sentiment Score
-0.25
