Cocoa Mar '24 (CCH24)
Cocoa Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Wednesday closed down -18 (-0.46%), and July ICE London cocoa #7 (CAN26) closed down -34 (-1.15%).
Cocoa prices settled lower on Wednesday, consolidating above Monday's 2-week lows. Â
Since posting 3.75-month highs last Monday, cocoa prices retreated to 2-week lows on Monday 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.
Signs of abundant cocoa supplies are negative for prices, as ICE cocoa inventories rose to a 1.75-year high of 2,673,307 bags on Wednesday.
Last Monday, cocoa pr... Read more
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