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Coffee Futures End Higher in Post-Thanksgiving Trade

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November 24th, 2017

Coffee futures edged higher Friday, helped along by a weaker dollar.

Arabica coffee for March ended up 0.9% at $1.2815 a pound on the ICE Futures U.S. exchange.

The Wall Street Journal dollar index, which measures the U.S. dollar against a basket of currencies, was down 0.1% in recent trade.

A weaker dollar is helping to boost coffee, said ED&F Man's Volcafe.

Producers in Brazil and Vietnam have been holding back sales, awaiting better prices, the firm said.

When the dollar is stronger against the currencies of these producing nations, growers are more likely to sell so that they can recoup more of their local currency from dollar sales.

"No one biting. No one hungry," said Thiago Marques Cazarini, a coffee broker with Cazarini Trading Co. in Brazil.

In other markets, raw sugar closed up 1.1% at 15.44 cents a pound; cocoa lost 0.9% to end at $2,105 a ton; frozen concentrated orange juice was down 0.4% at $1.6615 a pound; and cotton rose 1.2% to settle at 72 cents a pound.

 - Julie Wernau at Wall St. Journal.

See Also: Coffee, Cocoa, Cotton, Orange Juice, Sugar