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Rich Asplund

NY Cocoa Jumps to a 2-Month High on Adverse Weather in West Africa

West Africa Ice Ghana Ivory Coast ICCO London United Kingdom

December ICE NY cocoa (CCZ24) today is up +246 (+3.15%). September ICE London cocoa #7 (CAU24) is not trading today, with markets in the UK closed for a bank holiday.

NY cocoa today climbed to a 2-month high on concerns that excessive dry conditions 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.

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