US benchmark cocoa futures climbed 1.4 percent on Friday, with light trade and speculative buying nudging the contract near the week's top trade of $1,508 a tonne, market sources said.
The New York Board of Trade's cocoa contract for December delivery rose $21 to settle at $1,506 a tonne, after trading from $1,488 to $1,508 - the peak trade on Monday. One exchange-floor cocoa trader said the December contract has to move above $1,508 and then $1,525 in order to attract more substantial buying from speculators and funds.
Among other cocoa contracts, March gained $21 to end Friday's session at $1,546 and back months rose $20 to $21.
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