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Abundant West African Cocoa Supplies Weigh on Prices

ICE
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May ICE NY cocoa (CCK26) is down 2 ticks (-0.06%) and May ICE London cocoa #7 (CAK26) is down 7 ticks (-0.29%) as prices slightly retreat and consolidate this week's losses. NY cocoa hit a one-month low on Tuesday and London contracts also weakened, but moves are small and appear to reflect short-term consolidation rather than a major market shift.

Analysis

May ICE NY cocoa (CCK26) is down 2 ticks (-0.06%) and May ICE London cocoa #7 (CAK26) is down 7 ticks (-0.29%) as prices slightly retreat and consolidate this week's losses. NY cocoa hit a one-month low on Tuesday and London contracts also weakened, but moves are small and appear to reflect short-term consolidation rather than a major market shift.

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