Cocoa Eases as Rabobank Says Historic Rally Has Probably Peaked [Yahoo! Finance]
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Source: Yahoo! Finance
(Bloomberg) -- Cocoa fell in New York, as favorable rains were forecast for West African crops and Rabobank said this year's historic rally has probably peaked. Most Read from Bloomberg Biden Set to Impose Tariffs on China EVs, Strategic Sectors Apple Apologizes for iPad Pro Ad, Scraps Plan to Air It on TV Ackman Scolded Over DEI Views at Closed-Door Milken Session Marjorie Taylor Greene Finally Got What She Deserved: Defeat ‘Seriously Underwater' Home Mortgages Tick Up Across the US Futures lost as much as 2.5% to $8,482 a ton. While volatility remains high, trading in the last few days has been relatively subdued compared with big price moves of recent weeks. Cocoa soared to a record above $11,000 in mid-April on the back of severe shortages, before giving up some of those gains. While prices are unlikely to return to “normal” levels quickly, the peak of the rally has passed, Rabobank analyst Paul Joules said in a report, forecasting prices to head lower. “A combi
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