US cocoa futures were slightly higher in early trade on Tuesday and Arabica coffee rose on technical dealings, traders said. Cocoa was a shade stronger in quiet trading on contract rollover and a stronger dollar, traders said.
"Volume's light. We had a little bit of buying on the opening that pushed it up to the pivot point of $1,925 on March," one cocoa trader said. "We're very quiet".
On the screen, ICE benchmark March cocoa rose $2 to $1,919 per tonne at 9:23 am, trading from $1,912 to $1,929. The rest ranged from $1 to $2 higher. Arabica futures were slightly higher on technical dealings in steady trade, dealers said.
In electronic trade, ICE March coffee was up 2.25 cents at $1.2815 per lb at 9:24 am EST (1424 GMT), with trades ranging from $1.2610 to $1.2870. The rest were 1.65 to 2.50 cents higher.
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