WSJ – Cocoa Jumps on Concerns of El Niño, Bean QualityPosted 03/21/2017 3:56AM CT |
“I think it was just overdone with how much we have sold off,” said Peter Mooses, senior market strategist at RJO Futures.
“Now, we’re getting some news that the big productions there are seeing some damage; that’s driving the prices to move higher,” Mr. Mooses said.
On Monday, Mr. Mooses said that he saw speculative traders enter the market, betting on prices to rise further.
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