
July ICE NY cocoa (CCN26) on Wednesday closed up +30 (+0.89%), and May ICE London cocoa #7 (CAK26) closed up +22 (+0.88%).
Cocoa prices settled higher on Wednesday amid the prospects of a smaller global surplus. StoneX on Wednesday cut its 2026/27 global cocoa surplus estimate to 149,000 MT from a January forecast of 267,000 MT, citing risks to the West African cocoa crop from an expected El Niño weather event. StoneX also cut its 2025/26 global cocoa surplus forecast to 247,000 MT from a January estimate of 287,000 MT.