Why are cocoa prices up 60%? 🍫

[Free letter] Cocoa futures in New York closed at $9,649 a ton last night.

Good morning from Canouan, a tiny island in The Caribbean. Today’s letter is FREE!

Yesterday, my brilliant friend William posted about the spike in cocoa prices we’re about to witness. Throughout the day, I kept seeing stories from investors in cocoa as a commodity market and tweets joking about the value of Easter baskets this year. I reached out to Wil…