September ICE NY cocoa (CCU26) today is up +313 (+5.43%), and September ICE London cocoa #7 (CAU26) is up +244 (+5.72%).
Cocoa prices are surging today amid weather risks in West Africa, with NY cocoa posting a 6-month high and London cocoa posting a 7-month high. Cocoa prices have rallied sharply over the past three weeks as heavy rains in the Ivory Coast and Ghana have flooded roads, cutting off farmers’ access to farms and ports and threatening global supplies. Excessive moisture also increases the risk of brown rot disease and black pod disease on cocoa trees, reducing yields and jeopardizing the harvest.
