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Cocoa ends

firmer

NEW YORK: CSCE cocoa futures ended mainly firmer in uneventful dealings Monday, aided by scattered fund buying throughout the session, dealers said.

Most active December rose $1 a tonne, to $1,358, after trading from $1,350 to $1,365. Spot September gained $4, to $1,345, while the remaining months were down $4 to up $4.

With the London Commodities Exchange closed for a bank holiday, the New York market was thinly traded. Volume was estimated at a paltry 2,661 contracts on the day.

The market held well below chart resistance, pegged at $1,373 for December.

Market talk in recent days has centered around the 1995-96 West African cocoa crop. Forecasts through last spring were calling for a record harvest, but in recent weeks traders have speculated the crop would come in at the lower end of the anticipated range. Updated industry forecasts are expected in September.-Reuter