Huge Crash In Cocoa After Technical Glitch

Cocoa has traded all over the place this morning, having recently dropped like a rock.

And this isn’t about any immediate changed in the prolonged political crisis impacting key exporter the Ivory Coast. It’s all about the market, ICE Futures U.S., stepping in to halt what it considers an irregular price spike, according to Bloomberg.

ICE will be cancelling trades at $3,399 a metric ton or less, utilising its ability to cancel trades in the event of a price spike.

Check out more on what’s driven the cocoa market so high >


Photo: FinViz

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