
May ICE NY cocoa (CCK25) today is down -211 (-2.52%), and May ICE London cocoa #7 (CAK25) is down -233 (-3.53%).
Cocoa prices today are trading lower and just above Tuesday's 3-1/2 month lows. An improving supply outlook is weighing on cocoa prices after the International Cocoa Organization (ICCO) last Friday forecasted a global cocoa surplus of 142,000 MT for 2024/25, the first surplus in 4 years. ICCO also forecasted that 2024/25 global cocoa production will rise +7.8% y/y to 4.84 MMT.