London cocoa futures on ICE closed down on Tuesday, but still posted their biggest monthly gain since November 2024, supported by concerns of a sharp decline in cocoa production in top grower Ivory Coast in the upcoming 2026/27 season.

COCOA

* London cocoa ICEEUR:C2! ​​settled down £96, or 2.5%, to £3,724 per metric ton. The market posted a monthly gain of 29%.

* Some analysts expect Ivorian production to be around 1.7 to 1.8 million metric tons in the 2026/27 season, down from around 2.2 million in 2025/26.

* Heavy rains flooded several cocoa plantations in Ivory Coast's cocoa-growing regions last week, threatening the development of the September to February main crop, farmers said on Monday.

* Heavy rains have also hit Ghana, the world's second-largest producer.

* New York cocoa ICEUS:CC1! fell 2.5% to $4,967 a ton. The contract gained 27% in June.

SUGAR

* Raw sugar ICEUS:SB1! settled up 0.31 cent, or 2.2%, at 14.29 cents per lb after hitting a 3-1/2-week high of 14.43 cents earlier in the session. The market gained 2% in June.

* Sugar has been supported by concerns that El Nino weather conditions could curb production in major Asian producers India and Thailand.

* India is likely to receive below-average monsoon rainfall in July after logging its fifth-driest June since records began in 1901, the weather department said on Tuesday.

* Deliveries of raw sugar on the expiry of the July contract on Tuesday were seen at 15,678 lots, or around 796,500 metric tons, according to preliminary information from traders.

* The market was expecting a delivery of around 750,000 to 850,000 tons, sharply up from the July 2025 contract when only around 45,000 tons were tendered.

* White sugar ICEUS:SF1! gained 2.1% to $473.60 a ton, climbing back towards Monday's 9-1/2-month high of $481.90.

COFFEE

* Arabica coffee ICEUS:KC1! settled up 4.6 cents, or 1.7%, at $2.778 per lb after hitting an eight-week high of $3.0275.

* The market gained 14.5% in June.

* Dealers said the focus remained on the harvest in top producer Brazil, with recent rains slowing progress and raising some quality concerns.

* Arabica certified stocks at ICE continued to fall, hitting the smallest level since March 2024 at 377,465 bags.

* Robusta coffee ICEEUR:RC2! fell 1.7% to $3,564 a ton. It gained 9% in June.