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Market Impact: 0.32
Forecasts for Scant Ivory Coast Rains Boost Cocoa Prices
Source: Nasdaq
Commodities & Raw MaterialsCommodity FuturesNatural Disasters & Weather
December ICE New York cocoa futures rose 136 points, or 2.52%, while December ICE London cocoa #7 gained 141 points, or 3.53%. Prices are being lifted by forecasts for below-normal rainfall in Ivory Coast over the next week, raising concerns that dry conditions could stress West African cocoa crops and tighten supply.
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