Arabica coffee finished lower on Friday, retracing the surge from the last day of 2008 in thin post-holiday volume, traders said. The market was closed Thursday for New Year's Day. The March arabica coffee contracts fell 1.15 cents to close at $1.1090 per lb. Trades ranged widely from $1.0910 to $1.1205 per lb. March volume at a light 3,839 lots by 2:14 pm EST (1914 GMT)
The market trades until 2:45 pm Arabica futures corrected lower after vaulting up more than 4 percent Wednesday traders. Market easily fell on light volume as many participants remained away from their desks following New Year's Day and ahead of the weekend - traders. Light pressure from mildly firmer US dollar against a basket of currencies - traders.
Weeks of heavy rainfall in top coffee grower Brazil's south-eastern coffee areas is fortifying the trees in the early stages of producing a new crop, despite floods they have caused in some areas growers, buyers. ICE Futures US delisted all robusta coffee futures and options contracts, effective January 2, the exchange said Wednesday.
Scattered showers and thunderstorms expected to bring 0.1 to 0.75 inch of rain to Brazil's coffee belt on Friday with another 0.25 to 0.75 inch Saturday DTN Meteorlogix. Scattered showers and thunderstorms seen Sunday through Tuesday with temperatures, near to below normal DTN Meteorlogix. Total volume Wednesday at 10,646 lots - ICE data. Open interest by December 31 at 123,850 lots, little changed from the previous 122,856 lots - exchange data.
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