ICE arabica coffee futures fell in early trade Tuesday on profit-taking following Monday's climb up a 10-year peak, traders said. US cocoa futures hit a 24-year high for the second straight session, during overnight trade, but profit-taking trimmed gains, they said.
On the screen, ICE's key May coffee contract was down 2.60 cents or 1.6 percent at $1.614 per lb at 9:14 am (1414 GMT), dealing from $1.606 to $1.6365. The rest ranged from 2.40 to 2.65 cents lower.
The benchmark electronic ICE May cocoa contract was up $13 at $2,617 per tonne at 9:16 am, trading from $2,607 to $2,643 which marked a high last seen June 1984 for a second-month position on a continuation chart. The rest rose $4 to $31. All contracts tapped lifetime highs.