World Market

摘要

Arabica futures in New York continued to drop in the second half of December to end calendar 2013 down 23% as growing global supplies weighed on the market. The benchmark contract for March delivery concluded the year at 110.70 cents/lb as the marketsuccumbed to year-end profit taking and book squaring following a recent corrective rally move.Modest consolidation and upward correction has been seen over the last two months after the March contract hit a low at 104.15 cents/lb on November 6 and has since rallied in a counter-trend corrective move to hit 118.40 on December 27. The contract then turned down again pressured by profit taking and position squaring at year-end amid overbought conditions.