Arabica posted a modest recovery rally, gaining 55 points to settle 88.55. Volume was about average, and the best buying was seen around 8am EDT as small stops appeared to be triggered through the 89 level. The June 90p leads relevant OI ahead of Friday’s option expiration, 3k+ entering the day and is seen by some as a short term cap on the market. Ultimately the plus sign will be welcomed by many, but there is little to take from such a day. Robusta meanwhile fell $5 to close 1290 while posting yet another contract low (1267), unable to find any support of substance. Roasters were noted buyers into new lows as they have been all along. Vietnamese selling was noted not long after the open, while multiple reports of improving conilon business in Brazil is not helping sentiment.
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