New York cocoa futures rallied over 2 percent Tuesday, propelled by trade and speculative buying amid a lack of producer selling, market sources said. The New York Board of Trade's front-month March delivery settled up $36, or 2.4 percent, at $1,561 a tonne, just $6 shy of the top of a $1,530-$1,567 daily trading band and the loftiest close since last Thursday when it ended at $1,577.

The May contract likewise advanced $36 to $1,568 a tonne and more distant deliveries rallied $33 to $36 a tonne.

Copyright Reuters, 2005