ICE cocoa futures are under pressure, with July NY cocoa down 177 points (-4.32%) and July London cocoa down 113 points (-3.66%). The decline is being driven by rising supplies, including ICE cocoa inventories reaching a 1.75-year high of 2,810,211 bags. The article points to bearish fundamentals and inventory builds rather than demand-driven strength.
ICE cocoa futures are under pressure, with July NY cocoa down 177 points (-4.32%) and July London cocoa down 113 points (-3.66%). The decline is being driven by rising supplies, including ICE cocoa inventories reaching a 1.75-year high of 2,810,211 bags. The article points to bearish fundamentals and inventory builds rather than demand-driven strength.
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Request DemoOverall Sentiment
moderately negative
Sentiment Score
-0.45
