Arabica coffee and US cocoa futures retraced recent gains and moved lower in early trade on Wednesday, as the global recession fears that hit stock markets weighed on soft commodities, traders said. Arabica coffee for December delivery down 2.70 cents at $1.1625 per lb, by 9:17 am EDT (1317 GMT).
Trading range from $1.16 to $1.1875. The rest slipped from 2.30 to 2.70 cents. December volume was at a light 2,532 lots. Benchmark December cocoa down $60 at $2,247 per tonne by 9:19 am, moving from $2,232 to $2,307. The rest down from $17 to $60. December volume at 3,248 lots.
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