Liffe coffee edges down

05 Aug, 2004

London coffee futures closed lower on Wednesday, just off the session's low, as speculators sold to trade and industry buyers, dealers said.
"There's a bit of roaster buying and some tentative selling going on," one trader said.
Liffe benchmark September contract finished $10 lower at $655 a tonne after trading within a 655-668 range in volume of 3,121 lots.
Origin is mainly absent at the moment in the market after benefiting from better prices in June, when prices were about 25 percent higher.
"Origin sold when they could, prices are too low for them to get out of bed now," a trader said.
Weather service Meteorologix forecast above-normal temperatures for Brazil's coffee belt through Sunday.
It said temperatures would cool on Monday and Tuesday next week though not enough to harm crops.

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