Cocoa futures fell to a two-month low in London, and declined in New York, before harvests in West Africa that may add to supplies. Production in the Ivory Coast and Ghana, the two biggest growers, usually begins in October. World production of the beans has fallen behind demand for three of the past four years, according to the International Cocoa Organization. “Growing conditions in West Africa were quite good and a good harvest” can be expected, Eugen Weinberg, head of commodity research at Commerzbank in Frankfurt, said in an e- mail. Crops will be “probably even earlier than usual,” he said. Cocoa for September delivery dropped 62 pounds, or 2.7 percent, to 2,230 pounds ($3,540) a metric ton at 12:30 p.m. on NYSE Liffe in London and earlier fell to 2,222 pounds, the lowest price for that contract since May 20. Prices for December delivery on ICE Futures U.S. in New York dropped 2.8 percent to $3,051 a ton. The premium for the September futures in London compared to December narrowed to 84 pounds, the lowest since June 17, suggesting a supply shortage may be easing. White, or refined, sugar for October delivery fell 0.2 percent to $544 a ton. Raw sugar for October delivery climbed 0.8 percent to 18.44 cents a pound on ICE Futures U.S. in New York. Sugar in Russia Drought and record heat in central Russia and along the Volga River forced the government to declare emergencies in 28 crop-producing regions. Sugar beet is among crops being damaged, the national weather center said this week. Russia, the world’s third-biggest grower of wheat, has banned grain exports from Aug. 15 to Dec. 31 as the weather cuts yields. “The situation in Russia is worrying,” said Jonathan Kingsman, managing director of Kingsman SA, a sugar and ethanol research company in Lausanne, Switzerland. Arabica-coffee futures for September delivery were little changed at $1.698 a pound. Prices have climbed 25 percent this year. Robusta-coffee futures for September delivery fell 0.3 percent, to $1,734 a ton.

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