With near-term demand prospects weakened by stubbornly high inflation, cocoa prices would clearly benefit if last week's "risk on" can continue through the weekend.
Read MoreAn outside-day down from a 3 1/2 month high usually leads to some downside follow and after their recent rally, this could be the catalyst for profit-taking.
Read MoreIvory Coast and Ghana production should come in significantly below last season's total, so the prospect of a near-balanced supply/demand outlook should provide underlying support to cocoa.
Read MoreWith supply-side developments providing underlying support, cocoa should retain a positive tone if global markets can retain a neutral or "risk on" mood.
Read More