
May ICE NY cocoa (CCK25) today is up +269 (+3.32%), and May ICE London cocoa #7 (CAK25) is up +220 (+3.77%).
Cocoa prices jumped today on signs of better-than-expected global cocoa demand. Q1 European cocoa grindings fell -3.7% y/y to 353,522 MT, a smaller decline than expectations for a -5% y/y drop. Also, Q1 Asian cocoa grinding fell -3.4% y/y to 213,898 MT, a smaller decline than expectations for a fall of at least -5% y/y.