ICE Coffee Futures Settle Lower by FC Stone

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.