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Stock impact report

Oversold Conditions Spark Technical Short Covering in Cocoa Futures [Yahoo! Finance]

StoneX Group Inc. (SNEX) 
Company Research Source: Yahoo! Finance
Cocoa prices extended their month-long slide today, with NY cocoa posting a 2.25-year nearest-futures low and London cocoa posting a 2.5-year nearest-futures low. However, prices neared extreme oversold conditions and technical short covering from funds emerged to push prices higher. Arabica Coffee Prices Fall on Brazil Rain Forecasts Cocoa Prices Gain as Dollar Weakness Sparks Mild Short Covering Soybean Meal Is Heating Up. How Much Higher Can Prices Go? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Abundant global supplies and falling demand are keeping pressure on cocoa prices. StoneX on Thursday forecasted a global cocoa surplus of 287,000 MT in the 2025/26 season and a 267,000 MT surplus for 2026/27. Also, the International Cocoa Organization (ICCO) reported last Friday that global cocoa stocks rose 4.2% y/y to 1.1 MMT. Demand concerns have hammered cocoa prices as consumers continue to balk at the high pric Show less Read more
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