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December ICE NY cocoa (CCZ24) today is up +142 (+1.93%), and December ICE London cocoa #7 (CAZ24) is up +107 (+1.99%). Cocoa prices today extended this week’s rally to 1-week highs. A shrinking of global cocoa stockpiles is underpinning prices. ICE-monitored cocoa inventories held in US ports have been trending lower for the past 15 months and fell to a 15-year low Tuesday of 1,998,398 bags. London cocoa also has support after the British pound (^GBPUSD) fell to a 1-month low today, boosting cocoa priced in sterling. Also, lower cocoa production in the Ivory Coast, the world’s largest producer…

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