ICE Coffee Futures Consolidate Slightly Higher by FC Stone

Arábica coffee futures for December delivery ended 15 points higher at 116.55 cents a
pound.  Losses  for  the  week  totaled  2.60  cents  or  2.1  percent.  Activity    today  was
modest with volume reaching 22,377 lots.  A weaker dollar helped  the coffee market to
recover  from  early  losses.    The  expiration  of  the  October  options,  and  the  Jewish
Holiday  on  Monday  kept  the  action  slow  today.  In  coffee  related  new,  the  Brazil
Institute of Geography (IBGE) pegged the 2015-2016 crop at 43.7 million bags, down 1
percent from the previous estimate. Next Tuesday, CONAB will publish the third survey
of the 2015-2016 Brazilian crop.  The first survey of the 2016-2017 crop will be released
on June 15, 2016.  In other factors, next week’s  FED decision could cause volatility in
the markets.  During the week,  Arabica prices were pressured by the sharp devaluation
of  the  real,  following  the  downgrade  of  the  credit  rating.    Commodities  in  general
suffered liquidation ahead of Federal Open Market Committee meeting set for Sep 16-
17.