Cocoa Extends Rebound as New York Settles Above $5,200 (12 November 2026)
Cocoa extended Wednesday’s rebound on Thursday, with New York March holding above $5,000 throughout the session. The contract reached $5,270 before easing to a last trade of $5,187 and settled 3.13% higher at $5,204 per tonne. London March climbed to £4,029 before slipping back below £4,000, last trading at £3,984 and settling 2.42% higher at £3,986 per tonne. Turnover eased in both markets compared with Wednesday but remained above the preceding 20-session averages.
Thursday’s rally likely extended as traders reassessed Côte d’Ivoire’s crop outlook after Tuesday’s sell-off. Exporters had already reported arrivals below expectations, and NOAA’s Thursday update kept a strong to very strong El Niño likely through the first quarter of 2027, keeping SODEXAM’s warning of a potential 21–25% production decline in focus. New York March held above $5,000 and broke Wednesday’s high, a move that likely attracted momentum buyers and encouraged some short covering. In London, December’s discount to March widened, suggesting that crop concerns lent more support to later deliveries.
