Coffee Futures Trading Higher, ICO Reduces Coffee Production

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September Coffee is trading at 138.15, up 1.15 cents/lb. December Coffee is trading at 141.25, up 0.90 cents/lb.New York coffee futures are trading higher after showing a steady to lower trade early on.The International Coffee Organization (ICO) reduced their forecast for global coffee production by 1.4 million bags to 143.3 million bag, a good part of the decline was a 1.1 million bag reduction in Mexican coffee output due to the impact of leaf rust.Chatter about better yields from Brazil's coffee crop is ongoing. In other New York Soft commodities; December Cocoa is trading at 3010, up 29 $/MT. October Sugar is trading at 19.63, down 0.08 cents/lb. December Cotton is trading 71.05, up 0.40 cents/lb.November Orange Juice is trading at 184.30, up 1.65 cents/lb.

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