Cocoa Extends Gains After Global Processing Topped Expectations
This article is for subscribers only.
Cocoa futures climbed to the highest in more than two weeks after key processing data, often used as a proxy for global demand, beat expectations last week.
The most-active contract in New York rose as much as 7.1%, adding to last Thursday’s 3.6% gains. That comes as Europe, Asia and North American markets all reported smaller drops in cocoa grinds in the first quarter of the year than analysts had expected.