CSCE cocoa futures settled lower Thursday on speculative sales and continued fund roll out of front month July ahead of first notice day next Thursday, traders said.
"It was mostly spreads today, with some outright speculative selling at the close," said one dealer. Benchmark July cocoa lost $14 to finish at $1,347 a tonne, near the bottom of its $1,342 to $1,359 tonne trading range.
September cocoa lost $11 to $1,360 a tonne, moving from $1,353 a tonne to $1,370. Back months closed $11 to $12 weaker.
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