Today, the September coffee contract was up 240 points at 1.3250. The July contract is in the process of liquidation, so September is now the current month. Today is the sixth day in a row that the contract has traded generally between 1.30 and 1.325. However, today over 1,500 lots were traded in the last ten minutes. This high volume caused September to reach its high for the day and then drop back 100 points.
The attached report is about Vietnam coffee. It claims that the country maybe “swimming” in coffee. The London market was up 1.4% in sympathy with New York. When Vietnam tries to sell this coffee we could see a bit of a sell off in the London Market