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Market Impact: 0.38
Cocoa Prices Plummet on Ample Near-Term Supplies
Source: Nasdaq
Commodities & Raw MaterialsCommodity FuturesMarket Technicals & Flows
December ICE New York cocoa futures fell 408 points, or 7.07%, to a seven-week low, while December London cocoa futures dropped 282 points, or 6.63%. The selloff reflects expectations for ample near-term cocoa supplies, extending price pressure seen over the prior two weeks. The decline is materially bearish for cocoa prices and relevant to commodity traders and cocoa-exposed producers.
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