ICE Coffee Futures Recover

Tuesday, February 02, 2010

ICE Coffee Futures Recover

Hencorp Coffee

Arabica coffee futures recovered on Tuesday along with most commodity
derivatives amid a slightly weaker dollar and speculative short covering.
The benchmark March contract gained 2 ½ cents to settle at 135.05 cents
per pound. Today’s large volume was boosted by active spread trading
ahead of the March contracts’ first notice day in a couple of weeks. Specs
dominated most of the activity in today’s session however some producer
selling was noted close to the session’s highs. In other markets, Crude oil
recovered 3.8%.

In London, activity remained rather subdued; however Robusta futures did
settle 1.2% higher. The most active march contract gained $17 to settle at
$1339 per metric ton.

• ICE Certified stocks up 7,225 to 2,930,004 bags. Pending Grading:
39,968.