Cocoa Pops!

Cocoa pops! New York Cocoa futures soared to nearly 7-month highs this morning, as continued buying by commodity funds and speculators boosted prices. Prices gapped higher this morning following higher prices in London, and speculative buying then moved the market through resistance at 1680 in the March contract, triggering buy stops along the way. Origin sales were light as the harvest of the main Cocoa crop in the Ivory Coast and Cameroon winds down. Read More....