OVERVIEW Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat...
OVERVIEW June saw a strong rally in cocoa, the market breaking through May's highs as poor pod counts in West Africa pointed to a much smaller 2026/27 crop. NOAA confirmed an El Niño, now with an increased probability of a very strong event, which added further risk on top. The market...
OVERVIEW For all the bearishness of the current fundamentals, a record surplus, strong stock to grind ratio, and physical differentials at multi year lows, cocoa spent May rallying, largely because the futures market has stopped looking at 2025/26 and has turned its attention to the 2026/27 season. What is now driving the...