March NY Coffee Higher In Early Trading

March Coffee closed sharply higher Tuesday, the highest close since mid-December after setting an 11-month low on Monday. Chatter on Tuesday focused on the technically oversold condition of coffee. Market talk Wednesday morning continues about the hot and dry weather during January for Brazilian growing areas. Tuesday's trading range was large and market talk now is expecting large ranges. Last in, March NY Coffee was at 177.85, up 2.95 or about 1.6 percent.