ICE US Review: Coffee hits 12-year highs
Friday July 30 2010
COFFEE contracts on the ICE Futures US platform were stronger on Friday, hitting their highest levels in 12 years, as tight nearby supplies and bullish technical signals provided support. Buy-stops were hit on the way up, with funds and speculators the noted sellers.
The advancing Brazilian harvest should be putting some pressure on values. However, farmers in the country are reluctant sellers, as they hold out for better prices.
