ICE arabica coffee futures climbed in early trade on Wednesday, retracing Tuesday's sharp losses as concerns about dry weather in the biggest producer Brazil returned, while cocoa was mostly firm, traders said. "The weather situation is still pretty much the same so we have some people getting long again today," one coffee trader said, about Brazil.
The November options will expire Friday, with the strike point seen around $1.35. On the screen, ICE December coffee was up 1.6 percent or 2.10 cents at $1.3585 per lb at 9:19 am EDT (1319 GMT), moving from $1.3315 to $1.3625. The rest ranged widely from 0.25 to 2.15 cents stronger.
Cocoa futures were mostly higher in quiet dealings, traders said. On the screen, ICE December cocoa futures rose $6 to $1,829 per tonne at 9:18 am, in a trading band from $1,821 to $1,837. The rest ranged from flat to up $3.
Comments
Comments are closed.