May ICE NY cocoa (CCK26) today is down -155 (-5.06%), and March ICE London cocoa #7 (CAH26) is down -100 (-4.69%).
Cocoa prices are plummeting today, with May NY cocoa posting a contract low, and Mar London cocoa posting a new 2.75-year nearest futures low. Cocoa prices are in the midst of a seven-week-long downtrend, with nearest-futures (H26) NY cocoa posting a 2.75-year nearest-futures low last Friday amid robust global supplies and slack demand. On January 29, StoneX 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.
