US cocoa consolidated lower early Thursday, after last week's volatile moves, while arabica coffee futures eased on chart-based pressure and the firm dollar, traders said. Arabica coffee for March delivery down 0.45 cent at $1.1545 per lb by 9:19 am EST (1419 GMT). Narrow trading range from $1.1510 to $1.1610.
March volume 2,853 lots. Support for March pegged at $1.1440, then $1.1285, with resistance at $1.1830, then $1.2075. The rest ranged from 0.25 cent to 0.45 cent lower. Benchmark May cocoa down $9 at $2,728 per tonne by 9:20 am, with volume at 1,735 lots. Session range from $2,697 to $2,745. The rest from $1 higher to $10 lower.
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