ICE Coffee Continue to Extend on Short Covering by FC Stone

Arabica coffee futures closed with gains Monday  helped by lower export data and a recovery of the emerging
market currencies. The most active contract for December delivery settled 325 points higher at 127.55 cents a
pound. Volume was good at 30,902  lots, including 4,892 switches. The active switch December –March switch
remained  firm  at  -3.05  cents,  accompanying  the  recent  rally.  Export  data,  published  by  the  ICO  today,
revealed  that global exports in August fell 2.6 percent from a year earlier. The cumulative Arabica exports for
the season to date fell 2.3 percent to 62.91 million bags, and the cumulative Robusta exports for the season to
date  dropped  3.5  percent  to  39.04  million  bags,  according  with  the  report.  The  real  was  trading  steady  at BRL3.9050 and the Colombia peso recovered sharply trading at COP2,982 at 1:00 pm EST.