London coffee flat

09 Nov, 2004

London coffee futures were barely changed on Monday in very low volume as soft commodities players focused on surging cocoa prices, floor sources said.
Liffe's second-month January was just $3 higher by 1230 GMT at $586 a tonne after moving between $578 and $588 on turnover of 265 lots from a total of 564.
"There are a lack of offers out of Vietnam and funds and everybody else are watching cocoa," one trader said.
Market players were still waiting for the new Vietnamese season to get going later this month. The top robusta grower is expected to produce around one million tonnes (16.7 million 60-kg bags) this campaign.
Liffe's March was trading at $607, up $4 and at the top of the $10 range for the day. Volume stood at 206 lots.
Liffe cocoa prices jumped 11 percent as violence in Ivory Coast fuelled fears of disruption to supply.

Read Comments