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.

Important Notice :

前街咖啡 FrontStreet Coffee has moved to new addredd:

FrontStreet Coffee Address: 315,Donghua East Road,GuangZhou

Tel:020 38364473