US cocoa futures advanced to a seven-week high on Wednesday, fuelled by follow-through speculative buying amid bullish technical signals on the price charts and broad gains in the commodity sector, dealers said.
The New York Board of Trade's benchmark cocoa contract for September delivery rose $15 to settle at $1,578 a tonne, the contract's loftiest settlement since May 12, after trading from $1,554 to $1,579.
Longer-dated cocoa futures climbed $12 to $15, while spot month July, which had just 282 lots of open interest left on Tuesday, jumped $40 to end at $1,608.
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