ICE cocoa futures are sharply lower, with September NY cocoa down 135 points (-2.57%) and July London cocoa down 85 points (-2.18%). The decline reflects expectations for larger global supplies, which triggered long liquidation in cocoa futures. Bloomberg also cited rising Nigerian cocoa exports in May as an additional supply-side pressure point.
ICE cocoa futures are sharply lower, with September NY cocoa down 135 points (-2.57%) and July London cocoa down 85 points (-2.18%). The decline reflects expectations for larger global supplies, which triggered long liquidation in cocoa futures. Bloomberg also cited rising Nigerian cocoa exports in May as an additional supply-side pressure point.
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Request DemoOverall Sentiment
moderately negative
Sentiment Score
-0.35
