US cocoa futures registered modest gains for the third consecutive session, buoyed more by non-commercial participants switching contracts than outright buying interest, traders said on Thursday.
Dealers have been rolling their positions into back month futures contracts from the front month delivery ahead of its first notice day on November 15. The New York Board of Trade's front-month December cocoa futures contract climbed $8 to settle at $1,349 a tonne, after trading from $1,340 to $1,360. March cocoa advanced $5 to end at $1,377, and more distant contracts rose $5 to $6.