Arabica coffee futures crept up to close firm Friday, in meager, range bound dealings after the market was closed for the Christmas holiday Thursday, traders said. The market traded in an abbreviated session with ICE agricultural products trading the electronic platform closing early at 2:15 pm (1915 GMT), instead of the usual 2:45 pm.
The March arabica coffee contract finished up 0.35 cent at $1.0840 per lb. Trades ranged from $1.0795 to $1.0935 per lb. March volume reached a thin 1,101 lots by 2:13 pm Arabica futures moved well within the recent range of $1.0215 and $1.14, in exceptionally thin post-holiday volume amid a lack of new fundamentals - traders.
Scattered showers and thunderstorms to bring 0.2 to 1 inch of rain daily through Saturday, with similar conditions through Tuesday - DTN Meteorlogix. Total volume Wednesday were also light at 1,720 lots - ICE data. Open interest by December 24 at 121,789 lots, compared to the previous 121,339 lots - exchange data.