FYI Reuters take below. Not very informative.
Maybe some profit-taking on closing arabica-robusta spread going on? That said, arabica shorts not huge, at 7,441 contracts gross (futures and options) last Tuesday.
* December arabica coffee KCc2 rose 3.5% to $2.2085 per lb as the market resumed its upward trend, with funds continuing to build a net long position. (Full Story)
* The December contract rose about 16% from a low on July 15 of $1.9230 to a peak on Aug. 12 of $2.2340 but has lost some ground during the last few days on selling linked to a slight recovery in exchange stocks.
* ICE certified arabica stocks on Aug. 19 stood at 610,680 bags, a fourth successive daily increase after setting a 23-year low of 571,580 bags on Aug. 15. (Full Story)
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