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Reuters ahead with European cocoa report

Reuters was more than an hour ahead of Bloomberg on Oct 9 with news that a bullish European cocoa grind report contained an error and had been withdrawn. The original report, giving indications on demand, sent cocoa futures in London to a 24-1/2 year peak but gains were almost completely wiped out after the report was withdrawn. Reuters was also alone in earlier alerting subscribers that the cocoa association was rechecking the figures after industry queries.

Market Impact

Cocoa futures in London soared to a 24-1/2 year peak.

Article Tags
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe / Middle East / Africa
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