Cocoa #7 Sep '23 (CAU23)
Cocoa #7 Futures Market News and Commentary
September ICE NY cocoa (CCU26) on Friday closed down -390 (-6.04%), and September ICE London cocoa #7 (CAU26) closed down -306 (-6.37%).
Cocoa prices finished sharply lower on Friday as signs of robust cocoa supplies from the Ivory Coast sparked profit-taking and long liquidation in cocoa futures. Cumulative data from the Ivory Coast on Friday showed that farmers shipped 2.07 MMT of cocoa to ports in the current marketing year (October 1, 2025, through July 5, 2026), up +21% from the same period a year ago.
Rising cocoa inventories are bearish for prices. ICE cocoa inventories rose to a nearly 2-year high of 3,151,790 bags on Friday.
Cocoa prices have rallied sharply over the past three weeks, with NY cocoa hitting a 6-month high and London cocoa hitting a 9.25-month high on Thursday. Heavy rains in the Ivory Coast and Ghana have flooded roads, cutting off farmers’ access to farms and ports and threatening global supplies. Excessive moisture also increases the r... Read more
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