Coffee Futures Market Closes with Little Change by FC Stone

Arabica  coffee  markets  closed  on  Wednesday  with  little  change.  The  December  delivery  contract  settled  25
points higher at 120.50 cents per pound. The activity was slow, dominated by the switch. The most active switch between December-March weakened a bit, settling at -3.35 cents, after trading in a tight range. Speculative short covering caused a slight upward movement during the morning; however commercial selling against the high prices slowed the rally. In weather news, widespread rains continue to be reported in Brazil. The Espirito Santo region continues to be a bit dry. The fall of other markets within the commodities sector, such as sugar and cocoa, added downward pressure to coffee prices.