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Coffee futures

lower

NEW YORK: CSCE arabica coffee futures ended moderately lower on profit taking Tuesday, but stayed well within recent trading ranges, market sources said.

Traders appeared to shrug off stock data released late Monday showing a substantial drawdown in U.S. warehouse inventories. Certified coffee stocks fell by 65,167 60-kg bags on the week, to 557,289, the CSCE reported.

Unusually dry weather in Brazil continued to offer background support, but traders said it remained too early to tell if the coffee areas would be hit by a repeat of last year's drought.

Most active December eased 1.10 cent a lb on the day, to 154.70, having traded from 153.60 to 156.70. Spot September eased 0.90 cent, to 153.00. Eight notices were issued against the contract today, bringing the total so far to 164. The contract expires on September 19.

Today's volume was estimated at 5,448 lots.-Reuter