ICE Coffee Futures Finish Higher by FC Stone

Arabica Coffee Futures closed higher on Thursday. The December delivery contract gained 120 points at 120.30 cents  per  pound.  Price  action  was  helped  again  by  reports  suggesting  a  possible  reduction  to  the  Conillon harvest in Brazil due to lack of rains. Mr. Calegari, manager of Cooabriel, a cooperative in Espirito Santo, stated that  lack of rains  could  affect  production  for  2016. Precipitation  since  August  has  totaled 47 mm,  while  the historic average records 171mm for the same period. Total Conillon production in Espirito Santo is 11 million bags.  The  government  has  prohibited  irrigation  to  preserve  human  consumption.  In  other  Brazilian  regions, rains have been reported during the past 24 hours, and are expected to increase during the following days. The session passed by slowly, until the last minute publication of the Brazilian report. Volume was generated by the switch. Overall the markets were mixed, without major surprises