Cocoa Mar '15 (CCH15)
Cocoa Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Friday closed down -187 (-4.46%), and July ICE London cocoa #7 (CAN26) closed down -76 (-2.44%).
Cocoa prices fell sharply on Friday, posting 1.5-week lows. Since posting 3.5-month highs on Monday, cocoa prices have retreated amid an outlook for abundant supplies. On 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. Losses in London cocoa were contained on Friday after the British pound (^GBPUSD) sold off to a 5-week low, boosting cocoa priced in sterling.
On Monday, cocoa prices soared to 3.5-month highs 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 82% probability that El Niño conditions will emerge between May and July and persist... Read more
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