Morning review: Arabica coffee futures rebounded from September lows as processors bought
New YORK / London (Reuters)-Arabica coffee futures rebounded on Tuesday, closing slightly higher, trading volatile throughout the day and trading volume as processors bought after prices hit a three-week low.
Technical buying after prices fell below key support levels also helped push the market higher.
ICE raw sugar futures fell due to oversupply and lower Brazilian real. Cocoa futures fell back.
Speculative bulls closed their positions for a second day in a row, dragging prices to their lowest level since the end of September as Brazil's meteorological agency Somar forecast heavy rain this weekend in Minas Gerais, Brazil's main coffee-growing province, easing fears of drought damage in 2015 / 16.
Later today, Arabica coffee prices hit the 60-day moving average of $1.9318, dragging prices back to a day low before end-users and traders took in the bargain, traders said. "
ICE- December Arabica coffee futures rose 0.2 cents, or 0.1%, to close at $1.9960 a pound, falling 3.8% to $1.9180, the lowest since Sept. 30.
Liffe- January Robusta coffee futures closed down $1 at $2059 a tonne.
ICE- March raw sugar futures closed down 24 cents, or 1.4%, at 16.44 cents per pound.
Liffe- December sugar futures fell $5.60, or 1.3%, to $422.10 a tonne.
ICE- December cocoa futures closed down $10, or 0.3%, at $3110 a tonne.
Liffe- March cocoa futures fell 6 pounds, or 0.3%, to close at 1992 pounds a tonne.
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There will be a World Barista Competition from the 24th of the coffee competition.
What are coffee-loving bourgeois waiting for? The world's top baristas professional competition is coming to Ning! the 2015WBC World Barista Competition China trials will be held in Nanjing from October 24th to October 26th. The three-day competition will be held in the atrium of Jiangning Wanda Square, attended by a number of professional coffee masters and international coffee referees. Yesterday, in the 2014 World Barista Competition
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Pacific Coffee Hope Teaching Building completed in Tianshui City, Gansu Province
On October 10, 2014, teachers and students of Xingfeng Township Central Primary School in Qin'an County, Tianshui City, Gansu Province moved happily into their long-awaited brand-new comprehensive teaching building. The newly completed complex was funded by Pacific Coffee through donations from the pro bono nursery initiative. The two-storey teaching building has a total construction area of 96336 square meters and has a total of 9 classrooms and 7 function rooms.
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