US cocoa futures prices rose to a seven-day high Wednesday, buoyed for the second consecutive session by speculators reversing nearly two weeks of steady selling and contract lows, traders said.
The New York Board of Trade's active cocoa contract for December delivery rose $22, or 1.6 percent, to settle at $1,373 a tonne, near the upper half of a trading range from $1,353 to $1,377.
The top trade, the loftiest for the December contract since September 21, was 3.7 percent above the contract low of $1,328 recorded on Monday. Among other contracts, March cocoa ended $20 higher at $1,410. Back month deliveries advanced $19 to $20.