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Cocoa firmer

NEW YORK: CSCE cocoa settled slightly higher Friday in choppy, technically driven dealings, buoyed by speculative buying, traders said. Trade and arbitrage selling pared gains, dealers said.

Most-active July ended $3 per tonne firmer at $1,392, after trading from $1,410 to $1,382. Spot May settled up $10 at $1,381, while the back months closed $1 to $3 higher.

Traders pegged July resistance at $1,412 a tonne, while support was seen at around the session low at $1,382.

Volume reached an estimated 7,482 lots, compared to Thursday's official total of 14,974 lots.-Reuter