Cocoa futures experienced significant fluctuations, with prices surpassing $10,000 a ton before investors took profits. The surge in cocoa prices, rising 125% above its 200-day moving average, has led to concerns about the market's stability. Despite a retreat in New York, cocoa was still poised for its largest monthly gain ever as chocolate manufacturers rush to secure beans. The relentless rally in cocoa prices has pushed the market to a breaking point, with the ICE exchange taking measures to maintain order in the futures market.
Why have cocoa prices more than doubled in the past few months alone? And what could halt the surge? https://t.co/UsHVNEJFAK via @tracyalloway @TheStalwart https://t.co/aNAlf8l5iw
Cocoa’s Relentless Rally Is Pushing the Market to Breaking Point Magnitude of rally ‘hard to understand,’ veteran trader says ICE exchange is taking steps to keep orderly futures market https://t.co/FJ5TUBrj3V
Cocoa’s relentless rally is pushing the market to breaking point https://t.co/jL3WwXUrqw https://t.co/Is1uVZO900
The Cocoa backwardation https://t.co/IjGPs5qSog
Cocoa demand is increasing with a booming economy, Blue Line Futures chief market strategist @PStreible tells Yahoo Finance: https://t.co/98AwchAsFg
Cocoa’s relentless rally is pushing the market to breaking point https://t.co/bMH6nzpd3h via @business
Cocoa Set for Best Month on Record as Bean Shortages Fuel Rally https://t.co/ZKrBTWhU9o
Cocoa retreated in New York, but was still on course for its biggest monthly gain on record as chocolate manufacturers rush to secure beans https://t.co/SAqyX5PxZL
Cocoa futures went from 0 to 100 very quick https://t.co/KOnzXNZnTf
Cocoa futures settle at a record, up nearly 135% in the quarter to date https://t.co/Jmy3vWdBeR via @marketwatch
Cocoa Falls as Investors Take Profit After Rally to $10,000 Futures in New York and London ease from all-time highs Upcoming West African mid-crop harvests seen falling short https://t.co/YTyJQVPuse
Chocoholics Aren’t the Only Victims of Cocoa’s Surge https://t.co/DdtUGYBC1n "Once prices become untethered from fundamentals, a bull market is almost impossible to stop — until something breaks." Particularly interesting how hedging falls apart when crop failure reduces quantity
Cocoa futures fluctuate as investors closed positions a day after a rally that took prices above $10,000 a ton https://t.co/xjKTKf5eDX
As of Monday, Cocoa had risen 125% above its 200-day moving average, ranking it as the seventh most profound deviation above the long-term average for any commodity since 1959. https://t.co/S938OJGxrP