Cocoa futures markets turn bearish

Jul-23 NY cocoa moved lower from May 1 through May 3, breaking prior support around the 20-day moving average and retracement support to settle at $2,870. The Sep-23 contract closed at $2,881, testing the 20-day average May 3 but falling to hold above support [...]

Ample cocoa stocks & spec selling send cocoa to six-month low

The first half of the midcrop is off to an auspicious start, with weekly arrivals far outpacing last season’s pace. In the most recent week, cumulative arrivals into both Abidjan and San Pedro were estimated around 50,000 MT vs. only 19,000 MT a year [...]

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