New York cocoa was lower in early trade on Friday on speculative and trade selling, while coffee was a tad up, traders said. "There's some fund-to-fund action, some fresh buying continuing to support the price while the smaller specs and some in the trade are turning sellers," one cocoa trader said.
On the screen, ICE benchmark March cocoa sank $4 at $2,064 per tonne at 9:17 am EST (1417 GMT), ranging from $2,056 to $2,073. The rest were down $2 to $7. Coffee was a tad higher after Thursday's sell-off, driven by estimates of a healthy crop in Brazil. In electronic trade, ICE March coffee was up 0.60 cent at $1.2965 at 9:17 am, trading in a range of $1.285 to $1.3085. The rest were 0.25 to 0.65 cents higher.
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