• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Cocoa hits record even with Hedge Funds least bullish since 2022

1 year ago
in Agribusiness, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
83
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Cocoa hits record even with Hedge Funds least bullish since 2022

Money managers have slashed their bullish bets on cocoa to the lowest in 17 months, a sign that commercial traders have played a key role in the rally that’s sent prices to a fresh record on Monday.

The most-active contract in New York rose as much as 4.4% to a new intraday high of $10,193 a metric ton. Futures have more than doubled this year as poor crops in key West African growers put the world on course for a third straight annual supply deficit.

Hedge funds are continuing to cut bullish bets as the price soars, with the combined net-long position in New York and London cocoa futures seeing the biggest weekly decline in more than a year.

Lower net-long wagers and reduced open interest indicate that physical buyers may be playing a role in the rally. A shrinking commercial net short is “further evidence that the rally has been fueled by commercial short covering,” analysts at the Hightower Report said in a Monday note.

New York futures have “never been more stretched,” Bloomberg Intelligence strategist Mike McGlone wrote on Monday, noting that prices are more than three times above the five-year average. “Our takeaway is that there may be extreme pain, potentially from producer hedgers getting squeezed.”

While a technical gauge shows cocoa prices may have skyrocketed too quickly, many analysts aren’t yet seeing a top to the market.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

The smaller of Ivory Coast’s two harvests officially starts in April. The harvest isn’t expected to bring enough relief to tight global supplies, with the country’s regulator seeing the mid-crop ranging from 400,000 to 500,000 tons, down from as much as 620,000 tons a year earlier, Bloomberg reported last month.

Rain in the coming week “could be beneficial to the crop, but the exceptionally hot and dry conditions this year have lowered expectations for the mid-crop, which officially begins this week,” the Hightower Report analysts wrote.

Tags: Cocoacocoa futuresCocoa hits record even with Hedge Funds least bullish since 2022hedge funds
No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.