Weekly Winners & Losers
Cocoa is on fire, rallying $613 per tonne on Friday for its largest one-day move on record, and closing at a new all-time high of $8,018 amid major production problems in West Africa.
New York ICE futures were up more than 25% last week, 43% in the past 30 days, 93% year-to-date and 213% from March of last year.
Incredible!
May soybeans traded above $12 for the first time since mid-February on Thursday in a run to $12.17 but failed to settle in the 12s on Thursday and then again on Friday with an $11.98 close.
New crop futures almost made it into the 12s on Thursday as well, hitting $11.99-1/4 - a six-week high.
Soybean oil had its best week in nine months, closing up 7% at a three-month high:
This helped push oilshare to a 5-month high of 42.5% to end the week, helped along by strength in palm and diesel on top of a struggling meal market.
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