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Cocoa Prices Soar on Excessive West African Rains

Commodities & Raw MaterialsCommodity FuturesNatural Disasters & WeatherMarket Technicals & Flows

ICE NY cocoa (CCU26) jumped +658 (+13.07%) to a 5.75-month high, while ICE London cocoa #7 (CAU26) rose +460 (+12.23%) to a 6-month high. The rally was driven by concerns about West African weather impacting near-term supply expectations.

Analysis

ICE NY cocoa (CCU26) jumped +658 (+13.07%) to a 5.75-month high, while ICE London cocoa #7 (CAU26) rose +460 (+12.23%) to a 6-month high. The rally was driven by concerns about West African weather impacting near-term supply expectations.

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Market Sentiment

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mildly positive

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