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2026-11-05 21:26:29
[New York Cocoa Futures Fall to One-Month Low as Rising Inventories Offset Weather Risk Concerns] ⑴ New York cocoa futures fell to their lowest level in a month as rising inventories in European and U.S. warehouses offset market concerns about weather risks in major producing countries. ⑵ The most actively traded cocoa futures contract in New York fell as much as 4.8%, reaching its lowest level since October 1. ⑶ Following a significant oversupply in the previous season, cocoa inventories in exchange-monitored warehouses have continued to rise, indicating ample short-term supply. ⑷ However, the market remains closely watching weather conditions in West Africa. Donald Keeney, senior agricultural meteorologist at Xweather in Vassar, stated that although temperatures in the northern Ivory Coast growing region are slightly above normal, soil moisture remains sufficient. ⑸ In contrast, neighboring Ghana and Nigeria are experiencing more unfavorable weather conditions, with higher temperatures and less rainfall threatening local crop prospects.
