London coffee futures down

04 Mar, 2004

London coffee futures weakened on Wednesday as speculators and funds pushed the market lower and eventually broke the support barrier that had kept the market in a narrow range for two weeks, dealers said.
Prices hit two-month continuation lows, losing most of the gains accumulated this year, as industry interest retreated in the face of a weakening euro against the dollar.
Benchmark May closed $9 weaker at $729 a tonne, having moved in a $737-720 range on 6,177 lots. July ended $6 lower at $750 on 2,879 lots out of a total turnover of 12,855 lots.

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