
March ICE NY cocoa (CCH25) today is up +516 (+4.57%), and March ICE London cocoa #7 (CAH25) is up +440 (+4.93%).
Cocoa prices extended their 7-week rally today, with March NY cocoa and Mar London cocoa posting fresh contract highs and 7-3/4 month nearest-futures highs. Cocoa prices are surging as the West African cocoa mid-crop outlook has deteriorated. Maxar Technologies warns that dry conditions in West Africa will hurt the early development of the mid-year cocoa crop harvested in April and that the arrival of the seasonal Harmattan winds could worsen the situation.