Arabica coffee and US cocoa futures eased in early trade on Wednesday, keeping within the previous day's ranges and feeling pressure from outside markets, traders said.
"Today we're just seeing the support levels tested, and they're just kind of taking a wait-and-see attitude to see what happens with other markets," one softs trader said, adding that Tuesday's firm close was positive for coffee futures.
On the electronic platform, the key March coffee contract was 1.40 cents lower at $1.336 per lb at 9:17 am EST (1417 GMT), moving from $1.333 to $1.353. The rest were down 0.70 to 1.60 cents.
Cocoa also slipped and likewise moved within Tuesday's range. The ICE March cocoa contract trading on the screen was down $14 at $2,117 per tonne at 9:18 am, in a band from $2,113 to $2,146. The rest slipped $1 to $17.
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