Dec ICE NY cocoa (CCZ23) on Monday closed +9 (+0.26%), and Sep ICE London cocoa #7 (CAU23) did not trade Monday with markets in the UK closed for a holiday.
Cocoa prices Monday posted modest gains, with NY cocoa climbing to a 1-week high. Reduced cocoa supplies from the Ivory Coast are bullish for prices after Ivory Coast farmers shipped 2.34 MMT of cocoa from Oct 1-Aug 27, down -3.3% y/y. The Ivory Coast is the world's largest cocoa producer. Also, tightness in current cocoa supplies supports prices after ICE monitored cocoa inventories held in U.S. ports have steadily declined over the past three months to a 5-1/4 month low Monday.
