Monkey is random testing, u dont know abt the application u
r learnin it.

Ad-hoc is informal testing where u know abt the application
well in hand. You are doing random testing before you
actually begin with the intensive testing.

Definition(s):
Ad-hoc testing : A testing phase where the tester tries to
'break' the system by randomly trying the system's
functionality. Can include negative testing as well. 

Monkey Testing : Testing a system or an Application on the
fly, i.e just few tests here and there to ensure the system
or an application does not crash out.

Adhoc testing is something which is perfomed when there are 
not required documents available and tester past experinece 
and the expertise is required for such testing.

Monkey testing is testing the major functionality of the 
application when we do not have enough time to test.

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in really secnario., we dont use monkey testing termnology 
term.

Adhoc-testing means testing the application with out FTP, 
here testers have significant knowledge about the 
application.it is useful when time is  cunched for release.
monkey testing is nothing but adhoc tsting

In general, the exhaustive testing is impossible from
testing principles.Due to this reason,the testing team is
concentrating on Optimal testing.
Some times, the testing team is not able to conduct optimal
testing also,due to some risks.In this situation,the testing
team is conducting Ad-hoc testing or Informal testing.

There are five styles of Ad-hoc testing
1.Monkey testing
2.Buddy testing
3.Exploratory testing
4.Pair testing
5.Debugging.

MONKEY TESTING:
                 Due to lack of time for testing,the testing
team is concentrating on main activities of that software build.