March ICE NY cocoa (CCH26) on Wednesday closed down -214 (-4.98%), and March ICE London cocoa #7 (CAH26) closed down -115 (-3.72%).
Cocoa prices settled sharply lower on Wednesday but remained above last Friday's significant lows. Last Friday, NY cocoa dropped to a 2.25-year nearest-futures low, and London cocoa sank to a 2.5-year low, as abundant global supplies and slack demand weigh on cocoa prices. StoneX last Thursday forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27. Also, the International Cocoa Organization (ICCO) reported on January 23 that global cocoa stocks rose 4.2% y/y to 1.1 MMT.
