Cocoa has plunged nearly 50% from its peak and is now locked in a six-week downtrend as surplus projections reshape the narrative. On January 29, StoneX projected a 287,000 MT global surplus for 2025/26 and 267,000 MT for 2026/27. Rabobank estimates a 250,000 MT surplus, while
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Cocoa has plunged nearly 50% from its peak and is now locked in a six-week downtrend as surplus projections reshape the narrative. On January 29, StoneX projected a 287,000 MT global surplus for 2025/26 and 267,000 MT for 2026/27. Rabobank estimates a 250,000 MT surplus, while