Fred Business News - Cocoa futures surged to nearly a 30-year high Thursday as investors bet that an overall drop in rainfall will hurt crops in West Africa, the world's biggest supplier of the beans used to make chocolate.

 

Rainfall has picked up in recent days in major cocoa producers Ghana and Ivory Coast, but "in the grand scheme of things we're still down in overall rainfall," said Hector Galvan, analyst for RJO Futures in Chicago.

 

Cocoa for September delivery added $66 to $2,993 per ...   more »