December ICE NY cocoa (CCZ24) today is up +85 (+1.17%), and December ICE London cocoa #7 (CAZ24) is up +28 (+0.48%). Cocoa prices today extended Tuesday’s sharp rally and posted 1-week highs. Cocoa prices are seeing support from heavy rain in some areas of Africa’s cocoa-growing region, which has caused flooding, obstructed access to fields, and fostered cocoa disease. Also, JPMorgan on Tuesday 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 market consensus for a small surplus. The JPMorgan analyst …