Commodities
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Cocoa futures prices soared nearly 7% Friday on New York’s Coffee, Sugar & Cocoa Exchange in a rally led by trade houses amid rumors of a large cocoa purchase by the Soviet Union.
On other markets, orange juice futures fell sharply; precious metals made strong gains; energy futures lost ground; grains and soybeans were lower; livestock and meat futures were mixed; and stock index futures retreated.
Cocoa settled $77 to $94 higher, with the contract for delivery in March at $1,461 a metric ton. A metric ton is 2,205 pounds.
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