US cocoa futures climbed 1.1 percent to a four-week high Wednesday, buoyed by speculators taking precaution against possible unrest in top cocoa producer Ivory Coast this forthcoming weekend, traders said.
Ivorian President Laurent Gbagbo's constitutional term formally ends on Sunday, but elections originally scheduled to be held on that day will not take place.
The New York Board of Trade's active December cocoa contract rose $15 to end at $1,418 a tonne, after trading from $1,395 to $1,423. It was the highest settlement for the December contract since September 29. March cocoa advanced $16 to end at $1,457 and back month contracts climbed $16 to $18.
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