🍫 Favorable West African Weather Hammers Cocoa Prices Despite Long-Term Deficit Fears

Cocoa futures saw sharp declines this week as favorable growing conditions in West Africa raised hopes for improved crop yields, leading to bearish sentiment in global cocoa markets. On Wednesday, ICE New York July cocoa contracts (CCN25) dropped by -2.65%, closing down $263, while ICE London cocoa futures (CAN25) fell -3.14%, down £202 — hitting their lowest levels in over two weeks.

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