ICE Coffee Futures Edge Higher by FC Stone

Arabica Coffee Futures settled with modest gains on Wednesday, after a relatively slow session. The
March delivery contract settled 55 points higher at 120.45 cents per pound. Volume reached 12,706
lots,  including  1,225  switches.  Prices  remained  within  a  tight  range  almost  the  entire  session.  A
revision by Volcafe of global production and demand figures was published by Reuters, without much
effect on prices. The estimated deficit for 2015/2016 was reduced to 5.1 million bags, from a previous
estimate  of  6.4  million. The  2015/2016  Brazilian  crop  estimate  was  kept unchanged  at  48.3 million
bags. Crude oil fell again to recent lows below the $40 per barrel mark, putting pressure on producing
countries’ currencies. The Colombian peso closed at COP3163 and the Brazilian real reached a high of
BRL 3.8600.