Cocoa closed higher in range trading. Very little has changed fundamentally, and that could become a challenge for the bulls as the market needs news to keep the move higher intact.
Shipping is at the start of a two- year rally, led by advancing rates to haul coal, iron ore and grains, as fleet growth slows and China’s strengthening economy boosts cargoes, Morgan Stanley said.
The dollar rose for a second day after retail sales gained more than forecast last month, adding to speculation the Federal Reserve will move to trim its $85 billion of monthly asset purchases at a meeting next week.
CFTC Commissioner Mark P. Wetjen is poised to be voted acting chairman of the top U.S. derivatives regulator within days.