
September ICE NY cocoa (CCU24) today is up +307 (+3.35%), and September ICE London cocoa #7 (CAU24) is up +54 (+0.85%).
Cocoa prices today are sharply higher for a second day, with NY cocoa posting a 2-month high. Dry weather in West Africa could curb the region's cocoa production and is pushing prices higher. Forecaster Maxar Technologies recently said that top cocoa-producing countries Ivory Coast and Ghana had seen a "significant decrease in shower activity" over the past month, leading to below-normal soil moisture and limited crop growth.