Espirito santo

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Kaffe: There were strong gainers among ags, but in New York, where arabica coffee for September soared 5.2% to 172.40 cents a pound amid fresh concerns over the Brazilian harvest.

Cepea, the Brazilian research institute, said it would be "difficult" for exports in 2014-15 to beat those of last season both thanks to the "expected volume for the current crop", undermined by drought, and the fact that much of this year's harvest may not make the grade.

"Another aspect that might limit shipments in 2014-15 is quality," the institute said.

"Agents surveyed by Cepea say that first batches harvested in this season have been presenting a high amount of small coffee beans."

The contract gained extra kudos too on technical factors, slipping back easily above its 10-day and 20-day moving averages.

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