December ICE NY cocoa (CCZ26) is up +73 (+1.27%) today, and December ICE London cocoa #7 (CAZ26) is up +21 (+0.49%).
Cocoa prices are moving higher today on signs of stronger global demand. The Cocoa Association of Asia reported today that Q3 Asian cocoa grindings rose by a record +29% y/y to 233,767 MT, well above expectations of +15% y/y. The European Cocoa Association also reported that Q3 European cocoa grindings unexpectedly rose +3.2% to 348,215 MT, versus expectations of a -3.9% y/y decline.