Commodities
Cocoa Caps Volatile Week Marked by Hershey Bid for Big Purchase
- Hershey has sought approval to buy large amount via exchange
- Futures head for weekly loss, with volatility climbing
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Cocoa headed for a weekly decline in New York, after a volatile few days that included chocolate maker Hershey Co.’s bid to source a huge amount of beans through the exchange.
Futures slipped as much as 3.6% on Friday and are on course to end the week down by roughly 5%. Whipsawing prices have pushed a 30-day measure of historical volatility to a four-month high.