My Q2 report on soft commodities on Barchart highlighted cocoa as it led the way on the upside with a 13.13% Q2 gain. Cocoa was the only soft commodity posting a double-digit percentage gain in 2023’s second quarter and was second to frozen concentrated orange juice futures over the first half of this year with a 27.62% gain.
Nearby ICE cocoa futures settled at $3,318 on June 30, 2023. On July 14, the price was higher as the bullish trend in the cocoa futures arena continued to head for its critical technical resistance level.
