July ICE NY cocoa (CCN26) today is up +392 (+10.33%), and July ICE London cocoa #7 (CAN26) is up +310 (+10.84%).
Cocoa prices surged to 1.5-week highs today on fund short-covering, spurred by heavy rains in the Ivory Coast that have caused flooding and cut off farmers' access to cocoa plantations. Cocoa prices also have support on concerns that a potential El Niño weather pattern this year could threaten the West African cocoa crop.