Market Review

  • Cocoa Market Review June

    Cocoa Market Review June 2026

    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......

  • Cocoa Market Review May

    Cocoa Market Review May 2026

    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......