What have we learned in the month of October? We have learned once again that free markets work and that market forces, given time, will provide a cure.
The action in equities over the last month has been impressive, but it is even more impressive when one considers that the gains were forged in the wake of generally disappointing global economic news flow and a persistent escalation of tensions between Russia and Ukraine.
Conjecture about crops in the top grower benefiting from strong rainfall last week pulled cocoa futures to their lowest value in seven days on Friday, Bloomberg reports.
Speculation about strong sales in the top-growing region was pushing cocoa futures up on Tuesday, according to Bloomberg. Nations in West Africa are likely to have sold as many as 250,000 metric tons of the soft commodity during the past two-plus weeks, futures and options brokerage Marex Spectron Group of London said on Monday. The… Read more.
Conjecture about boosts to supplies in the globe's top grower pulled down cocoa futures on Wednesday, according to Bloomberg. Key growing regions of Ivory Coast are set to be nourished by an average of as much as 0.5 inches of rain per day through this Friday, according to a report issued by AccuWeather. The moisture,… Read more.
As prospects for the current crop begin to look up, cocoa prices plunged to their lowest point in more than nine months on Monday morning, according to Bloomberg. Ivory Coast and Ghana, the two West African nations that lead the world in cocoa production, are both expecting significant rainfall in the coming week, potentially between… Read more.
Wednesday saw cocoa futures climb in value amid generators of the soft commodity taking action to capitalize on reduced values by enhancing their supplies, according to Bloomberg. Stronger growing circumstances in regions of West Africa, the globe’s largest growing area, have pulled down the value of the soft commodity 2.6 percent thus far this month.… Read more.
One of the globe’s largest exporters of cocoa beans likely dropped shipments for a fourth consecutive year in 2012 because of strong demand issued by local grinders, a growers’ group told Bloomberg. Exports from Indonesia, which trails only the West African nations of Ivory Coast and Ghana, are poised to drop 26 percent this year to amount… Read more.
Improved circumstances for crops in West Africa helped draw down cocoa futures on Wednesday, according to Bloomberg. Conjecture is mounting about demand for chocolate lessening as worldwide economies slow down their pace. The coastal region of Ivory Coast, the globe's largest grower of the soft commodity, is forecast to see rainfall amounting to roughly 0.2… Read more.
Inclement weather in the globe's top producer of cocoa arrived later this year, which is likely to help crops' growth this harvest, according to Bloomberg. Harmattan winds from the Sahara desert impacted the Ivory Coast later than usual, which provided the soil with an opportunity to retain moisture from recent rain. The National Meteorological Service… Read more.