September ICE NY cocoa (CCU25) on Monday closed up +189 (+2.27%), and September ICE London cocoa #7 (CAU25) closed up +105 (+1.91%).
Cocoa prices rallied sharply to 3-week highs Monday on concerns that a slowdown in the pace of Ivory Coast cocoa exports will tighten global supplies. Monday's government data showed that Ivory Coast farmers shipped 1.75 MMT of cocoa to ports this marketing year from October 1 to July 27, up +6.1% from last year but down from the much larger +35% increase seen in December.
