ICE cocoa futures jumped sharply on Wednesday, with May NY cocoa up 119 points (+3.70%) and May London cocoa up 92 points (+3.80%). Prices rose on concern that a prolonged US-Iran war could keep the Strait of Hormuz closed and disrupt global cocoa supplies, adding a geopolitical risk premium to the market.
ICE cocoa futures jumped sharply on Wednesday, with May NY cocoa up 119 points (+3.70%) and May London cocoa up 92 points (+3.80%). Prices rose on concern that a prolonged US-Iran war could keep the Strait of Hormuz closed and disrupt global cocoa supplies, adding a geopolitical risk premium to the market.
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mildly positive
Sentiment Score
0.25
