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NIB - Weakness In Cocoa But The Bullish Trend Remains Intact
iPath Bloomberg Cocoa Subindex Total Return SM IndexETN
On April 22, I explained that cocoa futures were searching for a bottom. In that piece, I suggested that the odds favored a higher low and continuation of the bullish trend in the soft commodity.
Cocoa beans are the primary ingredient in the chocolate confectionery products enjoyed by people all over the world. Over 60% of the world’s annual supplies come from the West African countries of the Ivory Coast and Ghana. Cocoa plants do best in equatorial climates. Therefore, West Africa is the area of the world in the cocoa market that best compares