December ICE NY cocoa (CCZ24) today is up +5.32%, and December ICE London cocoa #7 (CAZ24) is up +6.36%. Cocoa prices rallied sharply today and continued to recover from last week’s lows when NY cocoa posted an 8-month nearest-futures low and London cocoa posted a 3-week low. Cocoa prices are seeing support from heavy rain in some areas of Africa’s cocoa-growing region, which obstructed access to fields and fostered cocoa disease. Also, JPMorgan today predicted a cocoa deficit of 100,000 MT in the current 2024/25 marketing year, tighter than its previous forecast of a neutral balance and the m…