Cocoa and coffee futures hit new highs amid growing concerns about extreme weather, while aging trees in African cocoa fields and coffee zones in Vietnam fueled worries about tight supplies. New York cocoa futures rose to their highest since the 1960s, extending a rally fueled by lower production in top suppliers Ivory Coast and Ghana. The gains in the most-active contracts accelerated after prices breached $10,000. Drought in Vietnam is expected to tighten robusta markets for the season starting in October, while dry weather and the spread of tree diseases are causing a huge cocoa shortage. Futures for robusta, a cheaper variety of coffee used in instant drinks, rose 1.6 percent to their highest since 2008.
