Coffee Futures – Arabica Coffee nears 9-month low

New York Arabica coffee futures
on ICE neared a nine-month
low on Friday. 

* May arabica coffee settled down 1.8 cents, or 1.5 percent, at $1.172 per lb, after falling to a contract low at $1.165. On the continuation chart it was one tick away from a nine-month low, as market participants focused on expectations for a large Brazilian crop.

* Total open interest rose for a ninth straight session to a record 267,006 contracts on Thursday, ICE data showed.

* May robusta coffee settled down $52, or 3 percent, at $1,690 per tonne.

Copyright Reuters, 2018