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Rich Asplund

HISTORICAL FACTS: Reduced global cocoa surplus prospects lift prices - Caught on Camera

Ice On StoneX Ivory Coast Ghana ICCO London

July ICE NY cocoa (CCN26) today is up +22 (+0.65%), and May ICE London cocoa #7 (CAK26) is up +20 (+0.80%).

Cocoa prices are moving higher today on the prospects of a smaller global surplus. StoneX today cut its 2026/27 global cocoa surplus estimate to 149,000 MT from a January forecast of 267,000 MT, citing risks to the West African cocoa crop from an expected El Niño weather event. StoneX also cut its 2025/26 global cocoa surplus forecast to 247,000 MT from a January estimate of 287,000 MT.

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