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Cocoa Prices Jump on Concern Over West African Crop Quality
Source: Nasdaq
Commodities & Raw MaterialsEnergy Markets & Prices
ICE cocoa futures rallied sharply, with December ICE NY cocoa (CCZ26) up +324 (+5.56%) and September ICE London cocoa (CAU26) up +226 (+5.45%) to 3-week highs. The move was driven by concerns over the quality of this year’s West African cocoa crops amid poor sunshine conditions. Short-term price risk is skewed higher as crop quality worries intensify.
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