
May ICE NY cocoa (CCK26) on Friday closed down -175 (-5.71%), and March ICE London cocoa #7 (CAH26) closed down -107 (-5.02%).
Cocoa prices settled sharply lower on Friday, plummeting to 2.75-year lows on the nearest futures chart. Cocoa prices are in the midst of a seven-week-long downtrend amid robust global supplies and slack demand. On January 29, StoneX forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27. Also, the International Cocoa Organization (ICCO) reported on January 23 that global cocoa stocks rose +4.2% y/y to 1.1 MMT.