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Friday, June 29, 2012

NY cocoa and coffee soar, sugar also settles higher

NY cocoa and coffee soar, sugar also settles higher | Reuters

U.S. cocoa futures jumped to close at the highest level in seven weeks in heavy dealings on Friday, while arabica coffee ended at a nearly six-week high and raw sugar finished firm, with broad-based buying lifting the commodity complex. Markets moved higher on spillover strength from the rallying commodity complex, euro and world stocks after European leaders agreed on a deal to shore up euro zone banks.

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