July ICE NY cocoa rose 69 points, or 1.83%, to the upside, while July ICE London cocoa gained 53 points, also up 1.83%. Prices strengthened on short covering after Ivory Coast farmers reported heavy rain and winds had damaged young cocoa flowers, raising supply concerns. The move is commodity-specific and weather-driven, with limited broader market impact.
July ICE NY cocoa rose 69 points, or 1.83%, to the upside, while July ICE London cocoa gained 53 points, also up 1.83%. Prices strengthened on short covering after Ivory Coast farmers reported heavy rain and winds had damaged young cocoa flowers, raising supply concerns. The move is commodity-specific and weather-driven, with limited broader market impact.
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mildly positive
Sentiment Score
0.25
