July ICE NY cocoa rose 10.33% (+392) and July ICE London cocoa climbed 10.84% (+310) as prices hit 1.5-week highs. The move was driven by fund short-covering and heavy rains in the Ivory Coast, which caused flooding and disrupted farmers' access to supply. The article points to weather-related supply concerns and positioning-driven buying rather than a broader macro shift.
July ICE NY cocoa rose 10.33% (+392) and July ICE London cocoa climbed 10.84% (+310) as prices hit 1.5-week highs. The move was driven by fund short-covering and heavy rains in the Ivory Coast, which caused flooding and disrupted farmers' access to supply. The article points to weather-related supply concerns and positioning-driven buying rather than a broader macro shift.
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Request DemoOverall Sentiment
moderately positive
Sentiment Score
0.55
