News Summary: Cocoa falls on plentiful supplies

10/24/2012 2:00 PM
By Associated Press

COCOA BUZZKILL: Cocoa fell 4 percent on reports of good production in several African nations, including the Ivory Coast. That would add to already plentiful supplies. Traders also speculated about the potential for diminishing demand in financially troubled Europe, home to the biggest number of chocolate consumers.

ECONOMIC MIX: Most commodity prices fell after disappointing economic news in Europe outweighed a positive report on China's manufacturing sector. Many traders sold riskier assets because of uncertainty about global economic growth.

WINNERS, LOSERS: Prices fell for gold, industrial metals, oil, natural gas and corn. Wheat and soybeans rose.


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