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Cocoa Market Outlook: Prices Set to Cool as Production Increases

The outlook for the last half of the 2024/25 cocoa market is dominated by generally favorable weather and upward revisions to production estimates. Demand remains a major focal point as well with the U.S. tariffs and recession risk likely to upend consumption in the world’s second biggest chocolate market. Overall, WPI sees more bearish prospects for cocoa prices over the next few months and into 2025/26 as global supplies look to recover from their disastrous 2023/24 levels. Short-Run Dynamics  Over the past three months, ICE cocoa futures have traded a relatively tight range (compared to recent history) of $7,600-$9,460/MT with buyers willing to chase rallies and end-users becoming active on breaks. Tight global stocks are help...

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FOB Prices and Freight Rates App (Updated 2 May)

Transportation and Freight Market Comments - 2 May 2025 By Matt Herrington Dry-Bulk Ocean Freight Dry bulk markets are finding some support from spot and 30-day demand but the Section 301 rules are depressing grain demand past July. Cargo orders from northern Brazil are increasing as South Amer...

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Market Commentary: Wheat Remains Weak, Corn and Soybeans Hold Their Own

It was modest volume trading grain and oilseeds today. Again, the lack of any new fundamental news has traders keeping their powder dry. USDA’s May WASDE is likely to boost estimates for corn and soybean exports, but that is still nearly two weeks away.   Instead, today’s...

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Market Commentary: Cattle Extend Record Rally; Wheat Finds New Lows; Corn, Soyoil Collapse

The CBOT tried to rally overnight and posted some slight gains heading into the morning break, but thereafter the market quickly found selling pressure. Monday’s favorable Crop Progress and conditions report from USDA offered much of the justification for the selling pressure and helped s...

FOB Prices and Freight Rates App (Updated 2 May)

Transportation and Freight Market Comments - 2 May 2025 By Matt Herrington Dry-Bulk Ocean Freight Dry bulk markets are finding some support from spot and 30-day demand but the Section 301 rules are depressing grain demand past July. Cargo orders from northern Brazil are increasing as South Amer...

feed-grains soy-oilseeds wheat

Market Commentary: Wheat Remains Weak, Corn and Soybeans Hold Their Own

It was modest volume trading grain and oilseeds today. Again, the lack of any new fundamental news has traders keeping their powder dry. USDA’s May WASDE is likely to boost estimates for corn and soybean exports, but that is still nearly two weeks away.   Instead, today’s...

feed-grains soy-oilseeds wheat

Market Commentary: Cattle Extend Record Rally; Wheat Finds New Lows; Corn, Soyoil Collapse

The CBOT tried to rally overnight and posted some slight gains heading into the morning break, but thereafter the market quickly found selling pressure. Monday’s favorable Crop Progress and conditions report from USDA offered much of the justification for the selling pressure and helped s...

feed-grains soy-oilseeds wheat

Middle East, Mediterranean, and Africa Regional Analysis

Mediterranean/Middle East/North Africa/Africa – MEA Region Oman will be hosting the USSEC 9th Regional Aquaculture Production Conference 2-5 May. Sustainable aquaculture production will be a major topic at the conference. Morocco’s Agriculture Ministry says that favorable rains in M...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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