Cocoa Futures Surge 9.5% to $4,157/Ton Amid Climate Concerns and Short Covering

GateNews
New York and London cocoa futures jumped intraday on May 26, with New York's most active contract rising 9.5% to $4,157 per ton, marking its largest intraday gain since May 11, while London futures gained nearly 9%. Market participants cited concerns over potential El Niño weather patterns threatening West African cocoa crop yields, combined with ongoing short covering by speculators, as drivers of the rally.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments