Cocoa #7 Sep '24 (CAU24)
Cocoa #7 Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Friday closed up +29 (+0.77%), and July ICE London cocoa #7 (CAN26) closed up +10 (+0.45%).
Cocoa prices recovered from 2.5-week lows on Friday and settled higher as short covering emerged ahead of the long holiday weekend, with markets in the US and UK closed on Monday. Â
Since posting 3.75-month highs last Monday, cocoa prices retreated to 2.5-week lows on Friday amid an outlook for abundant supplies. Â Last Thursday, the Ivory Coast boosted its cocoa delivery estimate to 2.2 MMT for the 2025/26 season, up from a previous projection of 1.8-1.9 MMT, citing favorable weather. Â
Increased cocoa supplies from the Ivory Coast are bearish for prices. Â Monday's cumulative data from the Ivory Coast showed that farmers shipped 1.61 MMT of cocoa to ports in the current marketing year (October 1, 2025, through May 17, 2026), up +1.9% from the same period a year ago.
Also, signs of abundant cocoa supplies are negative for prices, as ICE coco... Read more
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