Liffe coffee ends firmer on technical rebound

07 Aug, 2004

London coffee futures ended slightly firmer on Friday in what traders said was a weak technical rebound following the previous session's drop to a 21-month continuation low.
"I wouldn't be massively bullish, we might see a bit of a recovery but I haven't seen anything to change what is fundamentally a depressed market," one floor source said.
Liffe November settled at $651 a tonne, up $12 after trading between 642 and 659 amid volume of 17,959 lots.
The September contract rose $12 to $631 a tonne following a 623-640 range and turnover of 4,281 lots.
Total volume for the session was 23,529 lots.
In fundamental news, private forecaster Somar predicted a weak cold front with light showers in some coffee-growing areas of Brazil, the world's biggest producer, this weekend.
The meteorologist said no heavy rain or cold fronts were expected in the next 10 days.

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