Weekly Winners & Losers
Cocoa is getting as silly as orange juice as front-month futures closed up 17.6% on the week - making a(nother) new all-time high of $6,030/tonne.
March futures are up 40.3% year-to-date and 126% since February of last year as intense seasonal winds in West Africa are causing extensive damage to a growing crop.
Buyer beware!!
I am going to save everyone the pain of a deep dive into the bloodbath below.
Same here, aside from soybean oil who had a banner performance this week (following diesel higher). More on that below.
Both beans and meal made new lows, while oil was the lone winner of the complex:
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