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Barchart
Barchart
Rich Asplund

Cocoa Prices Supported by the Outlook of a Smaller Global Surplus

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.

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