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CSCE coffee

extends losses

NEW YORK: CSCE nearby arabica coffee extended losses late in the day amid speculative profit taking, while the back months scored modest gains, market sources said on Thursday.

Some liquidation ahead of the August 23 first notice day for September was seen, but trade was mostly uneventful.

"Interest in the market is fading because it has been too stagnant," said one analyst. "It hasn't gone either way."

Although producers' export quotas continue to underpin prices, their effect has been mitigated by this summer's unusually hot weather, which has sapped retail demand. Traders noted that the spread between the key September and December positions has contracted by over a penny per lb since the start of the week.

September fell 1.90 cent a lb, to 145.45 cents, after trading from 144.60 to 146.90 cents. December slid 1.55 cents, ranging from 144.60 to 146.90. The remaining months were down 0.35 to up 1.75.

The day's volume was estimated at 6,898 lots.-Reuter