Cocoa futures jump after Reuters exclusive

Cocoa futures jumped after Reuters tapped sources in Abidjan and London to reveal that agribusiness giant Cargill had followed a call by Ivory Coast presidential claimant Alassane Ouattara to stop buying local cocoa supplies. The story, quoting two company sources, immediately extended a rally of cocoa futures to drive a key contract nearly four percentage points up on its opening level. Cargill itself officially confirmed the move to suspend purchases nearly three hours later. The scoop was the latest in a string of market-moving Reuters’ exclusives as the power struggle between Ouattara and incumbent Laurent Gbagbo unfolds after a Nov. 28 poll which UN-certified results showed Ouattara won.