Coffee Futures Erase Gains

September New York Coffee is trading at 140.40, down 0.80 cents/lb. December New York Coffee is trading at 143.55, down 0.80 cents/lb. Coffee futures have erased the early session gains. Market chatter about Brazil's and Colombia's currency values is making the rounds. Brazil plans to offer bi-weekly auctions of 693,000 bags of coffee until the end of the year of government owned stocks in order to ease tight coffee supplies. El Salvador coffee exports during June fell over 26 percent versus a year ago. In other New York Soft commodities; September Cocoa is trading at 2864, up 7 $/MT. October Sugar is trading at 19.12, up 0.02 cents/lb. December Cotton is trading 72.56, down 0.99 cents/lb. September Orange Juice is trading at 182.75, down 7.05 cents/lb.