Cocoa #7 Dec '27 (CAZ27)
Cocoa #7 Futures Market News and Commentary
December ICE NY cocoa (CCZ26) closed up +123 (+1.85%) on Monday, and September ICE London cocoa #7 (CAU26) did not trade, with markets in the UK closed for a holiday.
NY cocoa extended its sharp three-session rally on Monday and posted an 11-month high. Concerns about the quality of this year’s West African cocoa crops are underpinning cocoa prices. Cloudy weather and limited sunshine in the Ivory Coast and Ghana are allowing black pod disease to spread, lowering cocoa bean quality.
Concern about a smaller cocoa crop from Ghana, the world’s second-largest cocoa producer, is bullish for prices. On August 20, Ghana’s Cocoa Board said that after a field survey of pod counts, it estimates the 2026/27 Ghana cocoa crop will be 650,000 MT, down -13% from 750,000 MT last year.
Cocoa prices also have underlying support from early surveys of the 2026/27 Ivory Coast cocoa crop, which show below-average cherelle formation on cocoa trees, signaling a weak outlook for t... Read more
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