NYBOT arabica coffee futures settled lower in an uneventful session on Tuesday, as most activity was focused on contract switching and spread trading, analysts and traders said.
The benchmark September coffee settled 0.30 cent weaker at 67.05 cents a lb, erasing on Monday's gains. It traded in a range of 66.40 cents to 67.25 cents. December coffee likewise slipped 0.30 cent, ending at 70.55 cents.
It traded within a range of 69.90 cents to 70.70 cents. "It was very uneventful today," one trader said. Final estimated volume was at 14,649 lots, compared with the previous count of 21,351 lots. Call volume registered 4,289 lots while puts hit 916 lots. Open interest in the coffee market fell 24 to 94,353 lots as of August 9.