US cocoa futures closed on positive ground Tuesday, with spread trading and industry buying helping prices rebound from new contract lows recorded earlier in the session, traders said.
The New York Board of Trade's active cocoa contract for December delivery settled up $12 at $1,334 a tonne, after trading from $1,319 to $1,336.
The bottom trade, which surpassed the previous contract low of $1,320 set on Monday, was the weakest price for a front-month delivery since August 17. March advanced $8 to end at $1,364, after setting a low of $1,351. More distant cocoa futures climbed $7 to $8.
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