Cocoa Extends Rebound as Expectations for Surplus Shrink
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Cocoa rose for a second day in New York, as traders weighed a reduced outlook for this season’s surplus and the prospect of index-related buying supporting the market.Futures gained as much as 1.5%, extending a rebound following a slump on Monday. Expectations for a global surplus this season have been trimmedBloomberg Terminal lately, with Citigroup Inc. cuttingBloomberg Terminal its estimate of the oversupply by 41% to 79,000 tons.