ASX to slip, Wall St edges lower

News Snapshot:

Pinned post – 7.26AM Australian shares are poised to slip, tracking modest weakness on Wall Street. Cocoa extended its surge — surpassing $US9000 a tonne for the first time ever — as a supply crunch grips the market and chocolate makers grapple for beans, Bloomberg report. Futures are up about 50 per cent this month alone and have more than doubled already this year. The rally has sent prices toward $US10,000 — a level that seemed unthinkable only a few months ago — and even made cocoa more expensive than bellwether industrial metal copper. In a note, JPMorgan strategists said...