Expectations of resumed price-support measures sent world cocoa futures prices soaring Tuesday on New York's Coffee, Sugar and Cocoa Exchange.
Elsewhere, silver futures rose sharply while gold also advanced; copper futures retreated; grains and soybeans were mixed; energy futures were higher; livestock and meat futures were mixed, and stock index futures were higher.
Cocoa futures rallied on U.S. and London exchanges on news that the International Cocoa Organization would hold a special meeting Jan. 13-15 to discuss a resumption of buffer-stock operations, said Judy Weissman Gaines, an analyst in New York with Shearson Lehman Bros.
Buffer-stock buying, a price-control method involving the removal of cocoa from the open market, was suspended in mid-May. Three previous meetings have failed to produce an agreement for restarting the operation.