Cocoa #7 Jul '26 (CAN26)
Cocoa #7 Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Monday closed up +527 (+12.60%), and July ICE London cocoa #7 (CAN26) closed up +370 (+11.88%).
Cocoa prices soared to 3.5-month highs on Monday and settled sharply higher amid concerns that the formation of an El Niño weather pattern could lead to warmer, drier conditions in West Africa, potentially damaging cocoa production there.  The US National Oceanic and Atmospheric Administration (NOAA) estimates  a 61% probability that El Niño conditions will emerge between May and July and persist through the end of the year, with a one-in-four chance of a "Super El Niño."
Cocoa prices also have support from early surveys of the 2026/27 West African cocoa crop that show below-average cherelle formation on cocoa trees, signaling a weak outlook for the main cocoa harvest, which begins in October. Â
Signs that consumer demand for chocolate is holding up are a positive factor for cocoa prices. Â Recent earnings results from top chocolate makers Her... Read more
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