New York cocoa futures advanced Thursday on a combination of rising prices in London, a weak dollar and prospects of receding bean supply from leading producer Ivory Coast, traders said. At the New York Board of Trade, the most-active May contract rose $25, or 1.62 percent, to settle at $1,567 a tonne, just $2 shy of the top of a daily trading range from $1,542 to $1,569.
The front-month March also gained $25 to end at $1,559, while more distant months climbed $25 to $27.
Estimated cocoa futures trading volume reached 15,299 lots, versus the official 15,331 lots the previous session, said a floor trader.
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