CME Cocoa Jul '26 (CJN26)
CME Cocoa Futures Market News and Commentary
July ICE NY cocoa (CCN26) on Thursday closed up +159 (+4.66%), and May ICE London cocoa #7 (CAK26) closed up +104 (+4.13%).
Cocoa prices rallied sharply on Thursday, with NY cocoa posting a 2-week high and London cocoa posting a 2.5-month high. Signs that consumer demand for chocolate remains resilient are pushing cocoa prices higher. Better-than-earnings results this week from top chocolate makers Hershey and Mondelez International show consumer chocolate demand remains steady despite high prices.
The prospects of a smaller global surplus are also supportive for cocoa prices. On Wednesday, StoneX cut its 2026/27 global cocoa surplus estimate to 149,000 MT from a January forecast of 267,000 MT, citing risks to the West African cocoa crop from an expected El Niño weather event. StoneX also cut its 2025/26 global cocoa surplus forecast to 247,000 MT from a January estimate of 287,000 MT.
The prolonged closure of the Strait of Hormuz is disrupting global cocoa s... Read more
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