Cocoa Dec '27 (CCZ27)
Cocoa Futures Market News and Commentary
September ICE NY cocoa (CCU26) on Monday closed down -128 (-2.51%), and July ICE London cocoa #7 (CAN26) closed down -95 (-2.50%).
Cocoa prices retreated on Monday for a second session on signs of larger global cocoa supplies. Bloomberg reported Friday that Nigerian cocoa exports in May rose +28% y/y to 18,034 MT.Â
Cocoa prices have rallied sharply over the past two weeks, rising by more than 20% and hitting 5.5-month highs last Thursday.  Concerns about the upcoming West African cocoa crop pushed prices sharply higher. Heavy rains in the Ivory Coast and Ghana have flooded roads and cut off farmers’ access to farms and ports, threatening global supplies. Accumulated June rainfall through last Monday has already reached levels near the typical average for the entire month in both countries. Excessive moisture also increases the risk of brown rot disease and black pod disease on cocoa trees, reducing yields and jeopardizing the harvest.Â
Cocoa prices also have und... Read more
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