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Home Business Agribusiness

Cocoa slumps 26% in two days, paring back historic rally

1 year ago
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Cocoa slumps 26% in two days, paring back historic rally

Cocoa extended a slump in London and New York, dropping 26% over the past two days, following a record-breaking rally.

The most-active contract fell as much as 13% to $7,756 a ton in New York, following Monday’s 16% drop. Prices declined 12% in London.

The plunge in prices comes as the number of outstanding contracts keeps declining, with aggregate open interest nearing the lowest in over a decade, according to data compiled by Bloomberg.

Source: bloomberg
Via: norvanreports
Tags: CocoaCocoa slumps 26% in two daysparing back historic rally
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