BNP Paribas Fortis agricommodities monthly coffee

Coffee prices on ICE Futures US continue to trade in line with speculative activity. The non-commercial long position, which stood at a net 24,208 lots in the week ending 22 December, fell to a low of 15,024 lots by 5 January.

The price meanwhile slipped to a low of $1.3760/pound by the end of 2009, its lowest since mid-November and down from $1.4830/pound on 12 December, its highest since August 2008. There was then a recovery in prices and investment, to 18,493 lots and $1.4265/pound, by 19 January, but it was not sustained, and by 26 January the speculative long had fallen to 14,617 lots, while the 2nd position contract ended the month at $1.3360/pound.

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