​Cocoa Prices Rise As US Stockpiles In Exchange-Monitored Warehouses Hit Four-Year Low – Tyler Durden

Cocoa Prices Rise As US Stockpiles In Exchange-Monitored Warehouses Hit Four-Year Low Cocoa futures in New York remain range-bound within a symmetrical triangle pattern after peaking near $12,000 a ton in mid-April, finding support around $7,000. Futures are rising this morning as traders are concerned about dwindling stockpiles in US warehouses. New data from ICE exchange-monitored warehouses shows US cocoa stockpiles have slumped to the lowest levels since December 2019. Given the global tightening of cocoa supplies theme, the bags held in US warehouse could extend declines in the coming weeks and or months. The most-active contract rose as much…  — Continue at ZeroHedge News : Read More