Cocoa futures surged sharply, with July ICE NY cocoa up 528 points (+12.63%) and July ICE London cocoa up 368 points (+11.82%), reaching 3.5-month highs. The rally is being driven by concerns that El Niño could bring warmer, drier weather conditions that threaten cocoa supply. This is supportive for cocoa prices and points to weather-related supply risk in the commodity market.
Cocoa futures surged sharply, with July ICE NY cocoa up 528 points (+12.63%) and July ICE London cocoa up 368 points (+11.82%), reaching 3.5-month highs. The rally is being driven by concerns that El Niño could bring warmer, drier weather conditions that threaten cocoa supply. This is supportive for cocoa prices and points to weather-related supply risk in the commodity market.
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Request DemoOverall Sentiment
moderately positive
Sentiment Score
0.45
