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Market Impact: 0.32
Dry Conditions in West Africa Boost Cocoa Prices
Source: Nasdaq
Commodities & Raw MaterialsCommodity FuturesNatural Disasters & Weather
December ICE New York cocoa rose 71 points, or 1.28%, while December ICE London cocoa #7 gained 63 points, or 1.53%, extending a second consecutive session of gains. The rally is driven by forecasts for below-normal rainfall in Ivory Coast and broader dry conditions in West Africa, which raise risks to cocoa crop supply.
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