Arabica coffee futures finished lower in thin trading Thursday as Wednesday's rally to a 34-year high was viewed as overdone, traders said. US cocoa futures also saw light dealings and eased on book-squaring ahead of the long weekend, while raw sugar reversed higher.
The softs markets trading on ICE Futures US will be closed for Good Friday and the electronic platform will reopen late on Monday at 7:30 am EDT (1130 GMT). Open outcry will see regular hours on April 25. The May raw sugar contract rose 0.28 cent to close at 25.48 cents per lb, while benchmark July gained 0.27 cent to finish at 23.80 cents. July closed the week up 3.6 percent.
July arabica coffee futures dropped 4.9 cents or 1.6 percent to close at $2.9455 per lb, after hitting a session high at $3.0055 per. July closed the week up 1.2 percent. Key July cocoa futures closed down $18 at $3,088 per tonne. July closed the week down 2.2 percent. May closed at a $42 premium to July, from $25 Wednesday, as it was in its delivery period.
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