Cocoa and arabica coffee futures trading on ICE Futures US were weak in early trade Friday, pressured by the strong dollar and speculative selling. Benchmark May contract fell $56 at $2,376 per tonne by 9:51 am EDT (1351 GMT), in a range from $2,356 to $2,447. The rest down from $58 to $70.
Fortis said on Friday that it estimated a smaller global cocoa deficit in 2007/08 of 5,000 tonnes, revising its previous forecast of a 32,000-tonne deficit. ICE Futures US May coffee 1.80 cent weaker at $1.3075 per lb at 9:53 am (1353 GMT). Range was $1.3055 to $1.333 per lb. Back of board down 1.60 to 1.80 cents.
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