Cocoa Drops as Record Run Spurs Profit-Taking Amid Thin Trading
Cocoa beans at a farm in Kwabeng, Ghana.
Photographer: Paul Ninson/BloombergThis article is for subscribers only.
Cocoa futures extended declines in New York after a blistering rally prompted traders to lock in gains.
The most-active contract edged down amid thin trading ahead of public holidays. Futures last week hit a record, buoyed by forecasts for reduced output in top growers Ivory Coast and Ghana, at a time when supply is already tight.