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Barchart
Barchart
Rich Asplund

Cocoa Erases Early Gains as Marex Group Projects a Global Cocoa Surplus

Marex Group Ice United States Ivory Coast Ghana ICCO London NY

September ICE NY cocoa (CCU24) Wednesday closed down -82 (-1.05%), and September ICE London cocoa #7 (CAU24) closed down -24 (-0.37%).

Cocoa prices Wednesday gave up an early advance and settled moderately lower as long liquidation emerged after Marex Group said it expects a global 2024/25 cocoa surplus of 303,000 MT, the first year of surplus after three straight seasons of deficits.

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