US cocoa futures ended in negative territory Friday, with producer hedging and speculative sales reining the benchmark price from a new 8-day high posted earlier in the session, traders said.
The New York Board of Trade's benchmark December contract settled at $1,394 a tonne, down $4 from the previous day and off $16 from an intraday peak of $1,410.
The bearish sentiment pushed down the December contract to an intraday floor of $1,375, only $5 away from a contract and 13-month continuation low marked on Monday.
Among other cocoa contracts, March dipped $5 to end at $1,427 a tonne, and back month deliveries shed $4 to $6.
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