
September ICE NY cocoa (CCU24) on Monday closed up +536 (+6.21%), and September ICE London cocoa #7 (CAU24) closed up +23 (+0.36%).
Cocoa prices rallied Monday, with NY cocoa up sharply at a 2-month high due to concern that dry weather in West Africa could curb the region's cocoa production. 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.