Arabica coffee and US cocoa futures steadied in early business on Wednesday, with moves in the currency markets underpinning both markets, while volumes thinned out ahead of the US Thanksgiving Day holiday, traders said. All agricultural commodity markets will be closed Thursday for US Thanksgiving Day, reopening for business on Friday.
Trading will end early at 1 pm EST on Friday instead of the normal 3:15 pm. Arabica coffee for March delivery was up 0.35 cent at $1.1475 per lb by 9:17 am EST (1417 GMT). Session ranged from $1.1390 and $1.1545. The rest were mixed, from down 0.55 to up 0.15 cent. March volume at a light 1,534 lots.
Mostly dry with a few light showers in the south-west through Friday, with temperatures near to above normal, DTN Meteorlogix said. Benchmark March cocoa was down $2 at $2,141 per tonne by 9:23 am. Trading ranged from $2,128 to $2,165. March volume was at 1,731 lots.