Biggest Cocoa Trade in More Than a Decade Rattles London Market;

Discussion in 'Wall St. News' started by ETJ, Jul 8, 2023.

  1. ETJ

    ETJ

    Biggest Cocoa Trade in More Than a Decade Rattles London Market; Squeeze sent July futures to a 240 pound premium to September; Measure of cocoa supplies has fallen to lowest in four decades
    Isis Almeida, Dayanne Sousa and Mumbi Gitau - Bloomberg
    The biggest cocoa trade in more than a decade is rattling the London exchange, bringing back memories of when a hedge fund manager known as "Chocfinger" tried to corner the market. Two years of deficits have dramatically reduced stockpiles of the key chocolate ingredient, with a measure of supplies at its lowest in four decades. That's left traders vulnerable to a squeeze - when they're unable to find enough supplies to deliver to buyers as contracts expire, and are forced to buy back futures.
    /jlne.ws/3pCIeZC
     
    TrailerParkTed, Snuskpelle and Sekiyo like this.
  2. mikeriley

    mikeriley

    A beautiful short waiting to happen.:sneaky:
     
  3. zdreg

    zdreg

  4. Handle123

    Handle123

    I been shorting on way up, hedging, only time will tell if highs are in. Waiting for retracement on Nat Gas and Sugar to add to shorts. Don't know if stops will hold in OJ