July ICE NY cocoa rose 373 points, or 9.83%, to close at 1.5-week highs, while July ICE London cocoa gained 293 points, or 10.24%. The rally was driven by fund short-covering after heavy rains in the Ivory Coast triggered flooding and disrupted supply. The move is supportive for cocoa prices and reflects a weather-driven supply shock.
July ICE NY cocoa rose 373 points, or 9.83%, to close at 1.5-week highs, while July ICE London cocoa gained 293 points, or 10.24%. The rally was driven by fund short-covering after heavy rains in the Ivory Coast triggered flooding and disrupted supply. The move is supportive for cocoa prices and reflects a weather-driven supply shock.
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Request DemoOverall Sentiment
moderately positive
Sentiment Score
0.62
