How a hedge fund exodus reshaped global cocoa markets [Yahoo! Finance]
Intercontinental Exchange Inc. (ICE)
Last intercontinental exchange inc. earnings: 4/30 07:30 am
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Source: Yahoo! Finance
markets that drives the cost of chocolate underwent a seismic shift: the hedge funds that oiled its workings headed for the exit. Confectionery prices, from candy bars to hot chocolate, are heavily influenced by futures contracts for cocoa beans. These financial instruments, traded in London and New York, allow cocoa buyers and sellers to determine a price for the commodity, forming a benchmark for sales across the world. In the middle of last year, hedge funds - a class of investors that use privately pooled money to make speculative bets - started pulling back from trading cocoa futures because price swings in the market were raising their cost of trading and making it harder to make profits. They accelerated their retreat in the first half of this year as cocoa prices hit a record in April, driven by supply issues in West Africa, according to Reuters calculations based on data from the U.S. Commodity Trading Futures Commission (CFTC), which oversees the New York market, and I
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- NYSE CONTENT ADVISORY: PRE MARKET UPDATE AND WEEKLY RECAP DECEMBER 20, 2024PR Newswire
- NYSE CONTENT ADVISORY: PRE MARKET UPDATE AND WEEKLY RECAP DECEMBER 20, 2024 [Yahoo! Finance]Yahoo! Finance
- NYSE CONTENT ADVISORY: PRE MARKET UPDATE AND WEEKLY RECAP DECEMBER 20, 2024PR Newswire
- NYSE CONTENT ADVISORY: PRE MARKET UPDATE AND WEEKLY RECAP DECEMBER 20, 2024PR Newswire
- NYSE CONTENT ADVISORY: PRE MARKET UPDATE AND EOY VIDEO DECEMBER 19, 2024 [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
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