London coffee lower on bearish outlook

07 Oct, 2004

London robusta coffee futures slipped on Wednesday as speculators banked profits and the bearish outlook for supply weighed on sentiment, dealers said.
Front-month Liffe November closed at $617 a tonne, down $7 after turning over 1,372 lots within a $631-613 range.
Bean values in London are down by almost a third since a June high of $879 a tonne.
Traders see little potential for higher prices unless rain fails to materialise in Brazil's main coffee-growing areas by the end of the weekend.
Total London coffee volume stood at 4,190 lots.

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