{
    "success": true,
    "data": {
        "id": 1059058,
        "msgid": "coffee-shaves-gains-after-gapping-to-new-high-1447893297",
        "date": "1996-08-10 00:00:00",
        "title": "Coffee shaves gains after gapping to new high",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "Coffee shaves gains after gapping to new high LONDON (Reuter): Robusta coffee futures gapped up to a fresh three-week high of US$1,635 a ton at the London Commodity Exchange yesterday but shaved gains on Indonesian selling to end off its peak at midday, traders said. \"Fund and speculative buying took prices up, but it (the buying) ran slap into Indonesian selling,\" said one trader.",
        "content": "<p>Coffee shaves gains after gapping to new high<\/p>\n<p>LONDON (Reuter): Robusta coffee futures gapped up to a fresh<br>\nthree-week high of US$1,635 a ton at the London Commodity<br>\nExchange yesterday but shaved gains on Indonesian selling to end<br>\noff its peak at midday, traders said.<\/p>\n<p>\"Fund and speculative buying took prices up, but it (the<br>\nbuying) ran slap into Indonesian selling,\" said one trader.<\/p>\n<p>Fund and speculative buying in London followed a jump in New<br>\nYork prices to four-week highs on Thursday and expectations of<br>\nfurther gains when it opens on tight prompt availability.<\/p>\n<p>\"It is looking like a serious situation in New York...the<br>\ncertified stocks are very low,\" said one trader.<\/p>\n<p>At midday benchmark September was up $38 at $1,628 a ton but<br>\noff its fresh three-week high of $1,635 a ton.<\/p>\n<p>Turnover on the exchange reached 3,779 lots at midday.<\/p>\n<p>The second-month November contract was up $33 at $1,601 a ton<br>\nbut below a intra-day high of $1,606 a ton.<\/p>\n<p>Some traders have also said they are wary of a squeeze on the<br>\nSeptember contract .<\/p>\n<p>\"Fears of a squeeze on the September grew ...September open<br>\ninterest still remains high at 13,232 lots and will now be the<br>\nfocus of the market,\" broker GNI said on Friday.<\/p>\n<p>Another trader, however, said this would be unlikely in the<br>\nface of tight trading rules on New York's CSCE futures market.<\/p>\n<p>Traders also said they expected the release of funds for<br>\nBrazilian coffee growers next week to slow down coffee exports<br>\nfrom the giant producer.<\/p>\n<p>\"The first flush of Brazilian coffee has come to an end,\" said<br>\none.<\/p>\n<p>Last week the Brazilian government agreed that up to 250<br>\nmillion reais (US$240 million) be used from its coffee fund<br>\nFuncafe to provide financing for farmers forced to sell coffee<br>\nfrom the current crop for ready funds.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/coffee-shaves-gains-after-gapping-to-new-high-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}