Arabica Coffee Futures settled lower for the sixth consecutive session. The March delivery contract settled 95
points lower at 118.30 cents per pound. Volume reached 17,618 lots including 3,101 switches. Emerging market currencies were under pressure today, dragging coffee prices down. The Brazilian real reached a high of BRL3.909, on amid further economic and political news. The Colombian peso closed at COP3346.94 under pressure of falling crude oil prices. CONAB published their fourth and last revised estimate for the 2015/16 Brazil crop early in the morning, from 42.15 million bags in September to 43.24 bags, although it did not seem to affect the markets substantially. The USDA will publish their biannual tropical commodity report tomorrow. After the close, Bloomberg published news stating that the Brazil 2016 Coffee output is seen around 20% higher after the rain boost.