July ICE NY cocoa fell 204 points (-4.64%) and July ICE London cocoa dropped 162 points (-4.95%) after the Ivory Coast raised its cocoa delivery estimate for the season. The supply-side revision pressured prices to 1-week lows, signaling a bearish shock to cocoa futures. The move is notable for the commodity complex but is unlikely to have broad market-wide spillover.
July ICE NY cocoa fell 204 points (-4.64%) and July ICE London cocoa dropped 162 points (-4.95%) after the Ivory Coast raised its cocoa delivery estimate for the season. The supply-side revision pressured prices to 1-week lows, signaling a bearish shock to cocoa futures. The move is notable for the commodity complex but is unlikely to have broad market-wide spillover.
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strongly negative
Sentiment Score
-0.55
Ticker Sentiment
