ICE Coffee Futures Consolidate Higher by FC Stone

Arabica Coffee Futures for March delivery settled higher on Tuesday by 165 points at 119.15 cents per pound
after a slow session. During the last five minutes, a wave of speculative buying lifted the market to the highs of the  day.  The  low  volume  reflects  the  festivities  of  this  week,  with  only  16,177  lots  traded,  including  2,694 switches.  Markets  were  higher  today,  on  news  of  planned  financial  stimulus  of  the  Chinese  economy  by the    government,  while  disappointing  third  quarter  GDP  figures  for  the  United  States  weakened  the  dollar against global currencies. The Brazilian real recovered slightly, since China is a big buyer of Brazilian products, giving  support  to  Coffee  prices.  The  Brazilian  real  reached  a  low  of  BRL3.973.  US  GDP  figures  showed  a  2% growth  in  the  economy  during  the  third  quarter,  compared  to  2.1%  growth  during  the  second  quarter, disappointing the market and weakening the dollar. The markets will close at 1:05 pm EST on Thursday, and will be closed all day on December 25 th , 2015.