Cocoa Jul '26 (CCN26)
Cocoa Futures Market News and Commentary
December ICE NY cocoa (CCZ26) closed up +2 (+0.03%) on Wednesday, and September ICE London cocoa #7 (CAU26) closed down -4 (-0.10%).
Cocoa prices settled little changed on Wednesday. Prices have been under pressure this week on signs of abundant global cocoa supplies. Last Friday, Bloomberg reported that Nigeria’s July cocoa bean exports rose +18% y/y to 16,052 MT. Nigeria is the world's fifth-largest cocoa producer.
Also, cumulative data from the Ivory Coast, the world’s largest cocoa producer, showed that farmers shipped 2.11 MMT of cocoa to ports in the current marketing year (October 1, 2025, through August 2, 2026), up +20% from the same period a year ago.
Rising cocoa inventories are negative for prices after ICE cocoa inventories rose to a 2-year high of 3,384,965 bags on August 5.
Last Thursday, cocoa prices rallied to 3-week highs on concern about a smaller cocoa crop from Ghana, the world’s second-largest cocoa producer. Ghana’s Cocoa Board said... Read more
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