Coffee Futures End Higher in Post-Thanksgiving Trade
November 24 2017 - 6:13PM
Dow Jones News
By Julie Wernau
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.
Write to Julie Wernau at julie.wernau@wsj.com
(END) Dow Jones Newswires
November 24, 2017 17:58 ET (22:58 GMT)
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