London coffee consolidates

London coffee futures consolidated after recent gains, closing firmer amid sentiment that the market may be reaching a peak, traders said.
Front month July closed up $7 at $826 a tonne in volume of 6,420 lots, having moved between $835 and $824.
September settled up $2 at $806 in volume of 4,502 lots.
"We are seeing early speculative buying into light long liquidation, and structural trading," one trader said. Funds kept a low profile as volumes remained moderate, traders said.
One trader referred to buying by industry players who had not participated in the recent rally.
Traders said the market continued to watch the winter weather conditions in top grower Brazil closely.