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Rich Asplund

INSANE: Cocoa prices settle higher on commodity index inclusion | Vintage Vibes

Ice United States ICCO London

December ICE NY cocoa (CCZ25) on Tuesday closed up +41 (+0.63%), and December ICE London cocoa #7 (CAZ25) closed up +55 (+1.17%).

Cocoa prices rallied to 5-week highs on Tuesday and settled higher on carry-over support from last Thursday's news that the administrator of the Bloomberg Commodity Index (BCOM) said the commodity will be included in the index for the first time in two decades, beginning in January.  Assets tracking the BCOM index totaled almost $109 billion at the end of 2024, suggesting cocoa's 1.7% weighting in the index could spur significant inflows into the market from passive funds that track it.  According to Peak Trading Research LLC, "Funds will have to buy about $1.9 billion in cocoa futures over the next 80 days."

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