ICE cocoa futures extended Monday's rally, with July NY cocoa up 20 points, or 0.44%, and July London cocoa up 23 points, or 0.66%, to fresh 6-week highs. Prices are being supported by heavy rains in Ivory Coast, a key cocoa-producing region, which could disrupt supply. The move is supportive for cocoa prices but appears more like a weather-driven commodity update than broad market-moving news.
ICE cocoa futures extended Monday's rally, with July NY cocoa up 20 points, or 0.44%, and July London cocoa up 23 points, or 0.66%, to fresh 6-week highs. Prices are being supported by heavy rains in Ivory Coast, a key cocoa-producing region, which could disrupt supply. The move is supportive for cocoa prices but appears more like a weather-driven commodity update than broad market-moving news.
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moderately positive
Sentiment Score
0.35
