Cocoa futures surge 8% on El Nino worries

10 articles · Updated · MarketWatch · May 7

The lead contract's jump on Thursday extends gains to 40% over the past month, though cocoa remains down 26% for the year.
The rally reflects concern that El Nino could bring dry weather to major cocoa-growing regions and threaten supplies.
Hershey shares fell 2% in premarket trading and are down 12% over the last month as higher cocoa prices pressure chocolate makers.

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