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Cocoa Market is Shifting // Brazilian Soybean Domination
SUMMARY
- Cocoa Update: Analysts say the retreat reflects a drop-off in consumer demand as a result of the higher prices, as well as expectations of a better crop given improved weather and higher state-guaranteed prices in West Africa.
- In addition, speculators who had previously been riding the rally have more recently dumped their positions, with many now betting on falling prices.
- Those supply fears have now started to ease.
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