NY Cocoa Slips As Charts Weaken, Robusta Coffee at 2-Month Low

From: brecorder.com

COFFEE

* March robusta coffee was down $1, or 0.1 percent, at $1,580 a tonne, after earlier falling to $1,575 a tonne, the lowest for the second position since early October.

* Dealers said the structure had weakened after prices failed to gain a foothold above $1,600 in the prior session, but buying appetite at lower levels was providing some support.

* Focus remained on ample global supplies as the harvest in top grower Vietnam gathered pace but recent weather conditions could cause some delays to early shipments, traders said.

* March arabica coffee was down 0.60 cents, or 0.6 percent, at $1.0630 per lb, hovering above a two-month low of $1.06 set in the prior session.

* Prices were weighed down by a weakening in Brazil’s currency, which encourages producer selling by boosting local returns on dollar-traded commodities like coffee.

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