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Coffee ends weaker

NEW YORK: CSCE arabica coffee futures ended moderately lower but above key chart support in listless trade Monday, market sources said on Monday.

Traders said the market appeared to be biding time ahead of the release of key industry inventory data. The CSCE's weekly certified stock report is scheduled for release later today, while the Green Coffee Association publishes its monthly report on Tuesday.

On the technical side, analysts expected the five-day moving average near 146.00 cents to offer initial support, although, barring bullish fundamental developments, most expected further declines.

"If the market goes beneath 146.00, that would be bearish, and we could fall to 140.00," said Jim Cordier, softs analyst for Allendale Commodities. "If we breach 140.00, all bets are off on the long side," he added.

September fell 0.70 cent a lb, to 146.25 cents, after trading within a narrow range from 146.00 to 147.20. Second- onth December eased 0.95 cent, to 144.35, while the remaining months ended down 0.35 to 1.35 cents.

Volume was estimated at a light 4,225 lots.-Reuter