Light fund buying boosted US cocoa futures on Friday, although balanced supply and demand prospects kept the benchmark price in a tight trading range for more than a week, market sources said.
The NYBOT's active cocoa contract for May delivery rose $20, or 1.4 percent, to settle at $1,457 a tonne, after trading from $1,431 to $1,462. July gained $19 to end at $1,479 and back months advanced $19 to $21.
The active May contract has been trading between $1,425 and $1,475 for the past week. The bottom end of the range was the lowest price for the contract in about three months.
Comments
Comments are closed.