London coffee prices closed lower on Wednesday as the market gave away gains accumulated in the previous session, when it hit a one-month continuation high.
Dealers said speculative selling and origin offers pulled prices lower as players tried to profit from what was considered a limited rally.
Benchmark May ended $11 lower at $744 a tonne, having moved in a $752-741 range on 5,206 lots with a total of 7,157 changing hands.
It hit $760 on Tuesday, a price for a second month last seen on February 16. July also closed $11 down but at $764 on 1,604 lots. May/July traded slightly wider at around a $21 discount.
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