
September ICE NY cocoa (CCU25) today is down -449 (-5.42%), and September ICE London cocoa #7 (CAU25) is down -153 (-2.85%).
Cocoa prices are trading lower on demand concerns, after the Malaysian Cocoa Board and Cocoa Manufacturers Group reported on Tuesday that cocoa bean processing in Q2 fell by -22% y/y. The market is looking ahead to the quarterly Q2 cocoa grinding reports that are expected on Thursday. Cocoa grindings reports for Q1 were weak. Q1 North American cocoa grindings fell -2.5% y/y to 110,278 MT, Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, and Q1 Asian cocoa grindings fell -3.4% y/y to 213,898 MT.