
September ICE NY cocoa (CCU24) on Monday closed down -322 (-4.01%), and September ICE London cocoa #7 (CAU24) closed down -187 (-2.87%).
Cocoa prices fell sharply on Monday, with NY cocoa posting a 1-week low. An improving outlook for the next cocoa season in West Africa is weighing on cocoa prices as the end of the El Nino weather pattern and a potential shift to a La Nina pattern is set to boost precipitation in the Ivory Coast and Ghana, which could increase cocoa yields.