DJ MARKET TALK: ICE Coffee Pushes Higher As US Dollar Drops

DJ MARKET TALK: ICE Coffee Pushes Higher As US Dollar Drops
1004 EDT [Dow Jones] – ICE arabcia coffee futures are trading off of intraday
highs with support from the weak U.S. dollar as commodities rally. Dec coffee
is up 275 points at $1.3220 a pound, off of the $1.3230 high. March coffee is
265 points higher at $1.3510. Most commodities are stronger and equities are
making gains. There is very origin selling as the Brazilian real is at its
strongest level against the greenback since Sept. 9, says Rodrigo Costa, vice
president of institutional sales at Newedge USA in New York. Dec has next
resistance is at $1.35 and support at $1.3150 and $1.2880, Costa says. Liffe
Nov robusta coffee is $35 higher at $1,411 a ton. (HEH)

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  (END) Dow Jones Newswires

  10-06-09 1009ET

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