Cocoa futures ended modestly higher Friday after early speculative buying took the benchmark contract up to a two-month high before paring gains ahead of a three-day weekend, traders said. The New York Board of Trade's bellwether May cocoa contract rose $4 to settle at $1,620 a tonne, after trading from $1,606 to a two-month high at $1,633. The top trade was the loftiest price in May since December 16. Nearby May cocoa firmed $7 to end at $1,603 a tonne, while deferred deliveries closed up $2 to $4.

Final estimated volume in cocoa futures reached 6,558 lots, compared with Thursday's official 6,281 contracts.

Copyright Reuters, 2005