Cocoa has already surged 10.2% as traders begin front-running January’s massive index-rebalancing flows, yet an estimated 36,000 contracts—roughly 30% of open interest—still need to be purchased by passive funds.Chocolate cocoa chopped on table by Simone_ph via Pixabay
Cocoa Update: Index Buying Has Begun — But the Big Wave Is Still Ahead
Written on 12/13/2025