ICE Coffee Futures Finish Unchanged by FC Stone

Arabica Coffee futures for December delivery closed unchanged on October 27th at 117.30 cents per pound.
Spot  contract  opened  40  points  higher,  and  reached  a  high  of  118.45  cents  per  pound,  however  news  of continuing rains in the south of Brazil, published by Somar, pushing prices down and reaching lows of 116.60, 30 points  higher  that  yesterday’s  lows.  Nevertheless,  MDA  Weather  Services  reported  today  that    the  central coffee  regions of  Brazil  and  Indonesia  are  still  “quite  dry”  and  crops  will  remain  stressed.  The  Brazilian  real showed little change, trading at BRL 3.9030 at 3:15pm EST, while the Colombian peso closed a COP 2,948.46. Open interest increased by 2,855 lots to 191,727 lots. There was an overall down move in the commodities sector, sparked by the sharp fall of crude oil. In addition,the  market  awaits  tomorrow’s  Fed’s  decision  tomorrow  regarding  interest  rates.  The  general  consensus believes that rates will remain unchanged, putting  further  downward  pressure on  prices.  Prices managed  to
reach positive territory towards the close, converging to yesterday’s closing price.