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Arabica coffee futures trading on ICE Futures US slipped early Wednesday in light trade and on pressure from London's weak robusta coffee market, while cocoa futures were mixed after tapping a 5-week high on fund buying.
July arabica down 0.95 cent at $1.3575 per lb at 9:16 am (1316 GMT), trading from $1.344 to $1.3725. The rest down 0.85 to 1.40 cent. Traders see pressure from sharply lower London robusta market- traders
According to DTN Meteorlogix, mostly dry conditions or some showers forecast in top grower Brazil's coffee belt Wednesday whereas dry weather for Friday through Sunday forecasted. Meanwhile, July cocoa down $3 at $2,748 per tonne by 9:18 am, trading from $2,724 to $2,770, a high last seen March 17. The rest up $8 to down $15. "Fund buying are supportive, said traders. They said quality concern about West African mid-crop mildly even played supportive role.

Copyright Reuters, 2008

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