Last Week’s European Commodity Winners Cocoa #7 (CAH25), +8.65% The forward curve points downward for 2024 and the rest of 2025. The market is discounting more supply on the market in the middle term. In contrast, Ghana is hoarding beans, which is keeping up current prices. Ivory Coast port volume at 365,000 mt represents 26% more than from last season. Cocoa is reaching the key level of 5,500, tested last week and on the week of Oct. 14. Weekly prices are moving above the 10, 20, and 50-unit EMAs; however, since the last week of June, we see a range with a bottom at 4,485 and a top at 5,405. …