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Copper, Coffee, Wheat Fall as Dollar Rise

November 3, 2009 at 18:05 by Vladimir Vyun

Copper slid in New York and London after the dollar gained. Prices also fell as stockpiles of metal in LME-monitored warehouses increased 0.4 percent to 373,800 tons. December delivery for copper slid $0.0325 (1.1 percent) to $2.9125 per pound by 8:27 on the New York Mercantile Exchange’s Comex unit.

Coffee futures declined on speculation that a stronger dollar will decrease demand for commodities. Coffee also fell on concern that yesterdays 5.1 percent surge was overdone. December futures for Arabica-coffee delivery declined $0.025 (1.8 percent) to $1.3985 per pound as of 9:32 on ICE Futures U.S. in New York.

Wheat futures may be opened lower as the rising dollar decrease demand for the U.S. exports and for commodities as an alternative investment. Wheat on CBoT is expected to open about 6 cents lower.

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