ICE Coffee Futures Finish with Little Change by FC Stone

Arabica coffee futures closed modestly lower Friday at the end of a slow session.  The active December position declined   50  points to 124.05 cents  a pound.  With no news, the market  fluctuated within a tight band of 275 points,    in  a  classic  inside  day  consolidation  pattern.    In  other  news,  commodities  in  general  recovered  as investors    took  advantage  of  low  prices.   Currencies  remained  volatile,  with  the  real  trading  lower  at  BRL 3.6000 and the peso recovering to COP3,077 at 1:45 pm EST.  During the week, Arabica prices lost 2.40 cents or 1.9  percent.   A  revision  down of  the  Brazilian 2015-16  crop  by  VOLCAFE ,  prevented the market  of  further losses following the sharp decline of the previous week.   Volcafe revised the output to 48.3 million bags from 51.9 million. The real  continued weak on disappointed economic news.  According with the last  GDP data, Brazil economy could be headed towards the worst contraction since 1931.  The GDP drop 1.9 percent during the second quarter.