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Barchart
Barchart
Rich Asplund

Cocoa Prices Pressured as Supply Concerns Ease

Ice Ivory Coast London NY StoneX

September ICE NY cocoa (CCU26) today is down -14 (-0.24%), and September ICE London cocoa #7 (CAU26) is down -5 (-0.11%).

Cocoa prices are moving lower today for a third session, amid negative carryover from last Friday, when Ivory Coast delivery news eased supply concerns. The cocoa market is looking to Q2 quarterly cocoa grindings data from Asia, Europe, and North America later this week for clues on demand recovery. European Q2 grindings are expected to fall -1.5% y/y and North American grindings are expected to fall -1% y/y. However, Asian Q2 cocoa grindings are expected to jump +9% y/y, building on a Q1 recovery.

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