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Cocoa futures

finish higher

NEW YORK: CSCE cocoa futures ended broadly higher Friday, wiping out the previous day's losses as speculators covered short positions ahead of the weekend, dealers said.

A move toward December's recent high of $1,373 brought in some fresh fund buying, but the rally stalled well below that level amid persistent scale-up trade selling.

December ended up $21 a tonne, at $1,357, with trades posted from $1,343 to $1,363. Spot September rose $23, to $1,341.

The day's turnover was estimated at 7,931 lots.

The market drew support from the relatively low number of delivery notices issued thus far against the September contract. Traders said views the West African cocoa crop - which has been widely anticipated to be at or near record levels - might come in at the lower end of expectations had prompted some houses to hold onto stocks.

A total of 157 notices have been issued since notice period began a week ago.-Reuter