ICE Coffee Futures Extend Losses Ahead of the FND by FC Stone

Arabica coffee futures fell again Thursday on last minute liquidations ahead of the first notice day.  The nearby
contract for September delivery, closed 350 points lower at 127.65 cents a pound, while the active December
contract lost 235 points to settle at 132.45 cents a pound. The active September/December switch widened 115 points, ending at -4.80 cents, under heavy selling.  The Colombian peso remained weak, trading at COP 3,061.5 at 3:45 pm EST.  Commodities in general were steady, but the world equity markets suffered strong declines.  Another negative day for China concerned investors about the global growth.  In coffee related news, harvest in Brazil has progressed 84 % by August 19, compared with 93% last year, according with Safras & Mercado.   In the report they forecast the 2015 crop at 50.4 million 60 kilo bags.