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Ivory Coast Crop Concerns Spur Short Covering in Cocoa

Source: Nasdaq

Commodities & Raw MaterialsCommodity FuturesNatural Disasters & WeatherMarket Technicals & Flows

December ICE New York cocoa futures rose 66 points, or 1.23%, while December London cocoa #7 gained 459 points, or 1.14%, rebounding from 1.75-month lows. Short-covering and forecasts for dry weather in Ivory Coast supported prices amid concerns that crop stress could constrain cocoa supply.

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