ICE Coffee Futures Suffer Another Negative Day by FC Stone

Arabica coffee futures  lower Monday in another general selloff of the commodity and equity markets.   The
active contract for December delivery settled 475 points lower at 121.70 cents a pound.  The volume reached
40,291 lots , including 6,905 switches.  The active December – March  switch widened 10 points to end at  - 3.55 cents.    Markets throughout Asia and Europe tumbled early, with the DJ index trading 1,000 points down after the opening.    The  sharp fall impacted  all commodities  as the  oil that traded under $38 per bbl, for the first time  since  Feb  2009.      In  the  currencies,        the  real    and  the  peso  again  were    under  pressure,  trading  at BRL3.5513  and COP 3,222.10 at 1:45 pm EST.  In weather  news  in Brazil,  a cold front will bring rains to Parana, Sao Paulo and south of Minas Gerais during the next 4 to 5 days.  Mostly dry weather will return to the coffee regions early September, according with SOMAR.