US cocoa trading on ICE Futures US found strength from speculative buying and a firm pound early Wednesday, while arabica coffee futures hovered around the unchanged mark amid thin volume, traders said. "It looks like there's a move that started yesterday in the late session to roll December into March. Speculators are buying March as well," one cocoa trader said.
On the screen, ICE December cocoa was $10 higher at $1,955 per tonne at 9:19 am EDT (1319 GMT), in a trading range from $1,938 to $1,967. The rest ranged from $11 to $18 stronger. Arabica coffee was little changed. The electronically traded ICE December coffee was up 0.10 cent at $1.22 per lb at 9:21 am, moving from $1.2140 to $1.2285. The rest ranged from flat to 0.55 cent higher.
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