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Coffee easier

NEW YORK: CSCE coffee futures ended moderately lower after trading in a narrow range on Thursday, as local and speculative selling pressured prices, traders said.

"The market is technical, it is not being dominated by any fundamentals," one analyst said.

May coffee ended 1.40 lower at 117.10 cents a lb, after trading between 118.50 and 116.50. Traders said the market failed to trigger sell stops placed beneath May's low, or buy stops waiting above the high. Substantial stops were said to be building above Wednesday's high at 120.50.

Second-month July closed down 1.50 at 117.10, while the back months settled up 0.50 to down 1.25.

Volume reached an estimated 6,667 lots, down from Wednesday's official turnover of 10,817.-Reuter

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