Futures on cocoa didn’t react to very weak European grinding data which felt 4.8% in Q3 on a yearly basis to 337,353 tons (vs 353,334 tons in Q3 2024) according to European Cocoa Association (ECA). Weak numbers suggest problems from the demand side as high price of cocoa-related products pressured consumers. The grinding data measure the amount of cocoa beans processed into butter but also powder. The market looks oversold, and we assume that this specific conditions are the reason why price didn’t react to the report today.
Source: xStation5
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