ICE Coffee Futures Settle Higher by FC Stone

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.