New York cocoa futures fell to a one-month low as rising warehouse stocks in Europe and the U.S. offset weather risk in major producing countries. The most-active New York contract dropped as much as 4.8% to its lowest level since Oct. 1. Exchange-monitored warehouse inventories have climbed further after a large surplus last season, signalling ample near-term supply. Market attention remains on West Africa: Xweather senior ag meteorologist Donald Keeney said soil moisture in northern Ivory Coas

New York cocoa futures fell to a one-month low as rising warehouse stocks in Europe and the U.S. offset weather risk in major producing countries. The most-active New York contract dropped as much as 4.8% to its lowest level since Oct. 1. Exchange-monitored warehouse inventories have climbed further after a large surplus last season, signalling ample near-term supply. Market attention remains on West Africa: Xweather senior ag meteorologist Donald Keeney said soil moisture in northern Ivory Coast is still adequate despite slightly above-normal temperatures, while Ghana and Nigeria are experiencing hotter, drier conditions that threaten crop prospects.