Cocoa Futures Little Changed

September Cocoa is trading at 2847, down 4 $/MT. December Cocoa is trading at 2855, down 5 $/MT. Cocoa futures are trading steady with a narrow trading range. Market chatter about cocoa demand in Europe where about one third of global cocoa processing is done has kept both buyers and sellers active in recent sessions. Market talk about West Africa's Cocoa production is ongoing. Some street estimates are showing a global cocoa supply surplus of about 100,000 tonnes for the 2016 to 2017 season. Street estimates for Ivory Coast cocoa production are near 1.8 million tonnes and Ghana's production is estimated to be near 870,000 tonnes due improved growing conditions from La Nina weather.