AUG 23 (SpillingTheBeans)–September Arabica coffee prices ended the week at new 4-year lows at the ICE futures exchange in New York, settling down 0.15 cents at $1.1305 per pound. Prices were dominated by negative sentiment in the bear camp throughout the week and continued to test fresh 4-year lows on the conviction that markets are well supplied for now. Fears and concerns in thee bull camp that multiple weather problems in all key producing countries from South-East Asia to Latin America are continuing to cause havoc to the next crop were ignored by the market. More forward and active December futures settled flat at $1.1705/lb.
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AUG 22 (SpillingTheBeans)–September Arabica coffee prices tested new 4-year lows on Thursday at the ICE futures exchange in New York and closed down 0.30 cents at $1.1320 per pound. Prices opened a tad lower but an attempt by the bull camp in early trade to take prices higher failed to gain momentum and after a brief rise prices moved back down into negative terrain. Traders said the bear camp continues to enjoy the momentum, in part thanks to aggressive origin selling from Brazil, the world’s largest coffee producing and exporting nation. More forward and active December futures settled down 0.10 cent at $1.1705/lb.
AUG 21 (SpillingTheBeans)–September Arabica coffee prices continued to erode on Wednesday at the ICE futures exchange in New York and settled down 1.45 cents at $1.1350 per pound. Prices opened higher and the bull camp in the market made an early attempt to get prices back up, but as origin selling continued in Brazil prices soon moved back into negative terrain. More forward and active December futures settled down 1.65 cent at $1.1715/lb.
AUG 20 (SpillingTheBeans)–September Arabica coffee prices crashed to fresh 4-year lows on Tuesday at the ICE futures exchange in New York and settled down 4.30 cents at $1.1495 per pound. Prices opened down and continued to move lower throughout the session on aggressive origin selling from Brazil, the world’s largest producer and exporter, where local purchasing prices have been supported by a weakening in the local currency the Real. More forward and active December futures settled down 3.95 cent at $1.1880/lb.
AUG 19 (SpillingTheBeans)–September Arabica coffee prices eroded further on Monday at the ICE futures exchange in New York fell to settle down 1.25 cents at $1.1925 per pound. Prices opened lower and remained weaker during most of the session, falling to a session low of $1.1885/lb before regaining some ground. Traders said market support was fading from a program by the world’s largest producer Brazil to buy up to 3 million 60-kilogram bags of coffee at subsidized prices through an option program. Prices lend support on the Brazil news for most of the last week. More forward and active December futures settled down 0.90 cent at $1.2275/lb.
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