Cocoa rose to a highest level in 21 years in London on speculation that demand will be boosted by a rebounding global economic. Restocking is taking place as consumer confidence returns and business conditions improve. Cocoa consumption jumped 0.6 percent in Europe in the fourth quarter. March delivery for cocoa rose 1 percent to $3,770 per metric ton on Liffe today.
Copper prices tumbled to the
Soybeans rose on expectations that demand from China will rebound after prices from the U.S. fell 9.4 percent this month. China’s demand for soybeans grown in the U.S. to produce cooking oil and livestock feed rose as drought harmed crops in South America last year. March futures for soybean delivery gained $0.04 (0.4 percent) to $9.54 per bushel on CBoT.
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