Short covering rally sets speculative bull trap in cocoa

Despite continued strong arrivals and signs of record West Africa main crop, cocoa prices turned higher over the past week in technically-led trading. Arrival figures from Ivory Coast through the end of March are approaching 1.7 MMT, well ahead of historical norm. The Harmattan [...]

Cocoa bean stocks & arrivals still look good, confirm large crop

Bean stocks in U.S. warehouses has climbed seasonally as main-crop cocoa arrivals progressed. Though still short of record levels, bean stocks are firmly within the range of the past several years and close to 4.5 million bags. Stocks of cocoa seem ample as the [...]

Ivory Coast’s cocoa bean arrivals still tell bearish story

Early arrivals of the 2018/19 cocoa bean main crop for Ivory Coast were estimated consistently up from the previous season’s arrivals, meeting some skepticism. The trade cautioned that gains early in October and November might prove illusory, caused by the selling of beans that [...]

West African weather more favorable for midcrop cocoa

Major West African cocoa origins seem to have dodged what some had thought would be a harsher Harmattan season; instead, Ivory Coast and Ghana have seen the sort of mix of sunshine and rains that typically supports higher bean production. In this case, 2018/19 [...]

Benchmark NY cocoa sets contract low

Mar-18 ICE settled lower this Friday, surprisingly hitting a fresh contract low after breaking support between $1,860 and $1,865. With conditions favorable for West Africa’s crop, fundamentals were in the driver’s seat, with profit-selling also in play. Ivory Coast arrivals are still running behind [...]