
December ICE NY cocoa (CCZ25) on Wednesday closed up +234 (+3.07%), and September ICE London cocoa #7 (CAU25) closed up +82 (+1.53%).
Cocoa prices settled sharply higher on Wednesday as updated weather forecasts reduced the chances for precipitation in the Ivory Coast over the next week. Cocoa prices also have support from tighter inventories. ICE-monitored cocoa inventories held in US ports fell to a 3-month low of 2,177,187 bags on Wednesday.