Commodity traders stay bullish as CME Cocoa adds $68 or 2.84%

Published: November 25 2022, 14:06 GMT+0

Commodity traders stay bullish as CME Cocoa adds $68 or 2.84%

Tentatively higher from an earlier low of $2,445, Cocoa is up to $2,465 per metric tonne today, adding $68, or 2.84%, to yesterday's closing price of $2,397.

This rally in Cocoa's price coincides with other Softs as Coffee gained 2.9% and is currently trading at $164.75. Sugar increases 0.46% to trade around $19.64.

While Cocoa is higher so far today, these Softs commodities are underperforming: after ending yesterday's session at $83.94, Cotton lost $1.62 and is trading around $82.32.

Having set a significant high of $2,821 a month ago, the Cocoa future is trading 8.39% lower.

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