Arabica coffee futures ended higher on Wednesday at the end of a slow session. The contract with most of the
activity for March delivery, settled 105 points higher at 125.55 cents a pound. With no new fundamental developments, prices tended to consolidate inside the recent range on light volume. The coffee market appeared to be separated from recent developments in Brazil that caused the real to devaluate sharply today. The real traded at BRL3.80 during the session but recovery trading at BRL3.7545 at 1:30 pm EST. The Petrobras scandal shook the politic and economic layers today as a high rank executive and a congressman were detained. The dollar strengthened today on positive economic data. Durable goods orders increased 3.0 % during October, better than 1.5 % was expected by Wall Street analysts, adding the sentiment the FED will raise interest rates on next meeting December 16.
The market will be closed tomorrow in observance of the Thanksgiving Day.