Cocoa futures finished on positive ground Friday, with speculative short-covering, trade buying and switch trading propelling the front-month position to its loftiest price in a week, market sources said.
The New York Board of Trade's cocoa contract for July delivery settled up $15 at $1,476 a tonne, the highest since June 1, after trading from $1,465 to $1,490.
September cocoa, which now has more open interest than the July contract, climbed $14 to conclude at $1,498 a tonne. Back month cocoa futures advanced $12 to $14.