Cocoa futures have a seasonal tendency to bottom in June due to the harvesting of the new crop. Demand is usually at the highest from commercial processors in March, which tends to be the seasonal peak for cocoa. Demand for cocoa/chocolate is highest during the Valentine’s and Easter season. The March to June period is usually a down period seasonally for cocoa as the commercial processors have already bought their supplies for peak season and supplies are being increased from the cocoa harvest period.
Futures Seasonal Charts for each Commodity