September ICE NY cocoa (CCU25) is down -266 (-3.37%), and September ICE London cocoa #7 (CAU25) is down -146 (-2.80%).
Cocoa prices are trading lower on demand concerns ahead of Thursday's expected release of Q2 grinding figures. The consensus is that Q2 European grindings will fall -5% y/y. That would follow Tuesday's negative demand news from the Malaysian Cocoa Board and Cocoa Manufacturers Group, which reported that Malaysian cocoa bean processing in Q2 fell by -22% y/y.
