Cocoa Futures Edge Higher After Brief Dip in Prices

Cocoa futures in New York experienced a reversal, edging higher after a brief dip in prices, following a rally that sent prices above $10,000 a ton. The most-active contract rose as much as 3% late in the trading session Wednesday, wiping out a 3.7% slump. This shift came as investors closed out positions to take profits after the market reached an all-time intraday high of $10,080 a metric ton on Tuesday. The market exhibited volatility with both gains and losses, showcasing the complex nature of trading in this commodity.