May ICE NY cocoa rose 30 points (+0.90%) and May ICE London cocoa gained 19 points (+0.76%) as traders priced in supply disruption risk from a prolonged US-Iran war and a potentially closed Strait of Hormuz. The move is driven by geopolitical supply concerns rather than cocoa-specific fundamentals, implying a modest but not broad market impact.
May ICE NY cocoa rose 30 points (+0.90%) and May ICE London cocoa gained 19 points (+0.76%) as traders priced in supply disruption risk from a prolonged US-Iran war and a potentially closed Strait of Hormuz. The move is driven by geopolitical supply concerns rather than cocoa-specific fundamentals, implying a modest but not broad market impact.
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neutral
Sentiment Score
0.15
