Cocoa futures extend gains as ICE New York rises 1.33% and London adds 0.58%
AI Market Summary
Cocoa futures extended gains as West African heavy rains disrupt transport and raise disease risks, tightening near-term supply. Forward-looking support also comes from expectations of a strong El Niño and early 2026/27 Ivory Coast crop surveys pointing to an ~18% y/y production drop. Offsets include ICE inventories at a two-year high and Ivory Coast port arrivals up 21% y/y, but demand signals improved with Barry Callebaut sales rising 5.7%.
Impact level
● Medium
Affected assets
NCCOCOCOA2USD/USDT-1.18%
AI Insight · NCCOCOCOA2USD/USDTAI Insight
▲ Bullish
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Cocoa futures extended their advance, with ICE New York and London contracts up 1.33% and 0.58% on the day. Heavy rain across West Africa has disrupted transport and raised disease risks, while early crop assessments point to an 18% year-on-year drop in 2026/27 output, supporting prices. Even with ICE inventories at a two-year high and Ivory Coast shipments up 21% from a year earlier, demand has shown signs of improvement as Barry Callebaut posted its first quarterly sales increase in more than two years, up 5.7%.
