Coffee Ends Higher
Arabica coffee futures settled higher on Monday supported by the Robusta market and the constructive technical outlook. The active July contract finished 3.50 cents higher at 227.50 cents a pound. Despite some rains in Vietnam, reservoirs used to irrigate crops in Central highlands are critically low and rains should develop before May 15 to avoid irreversible damages to the crops. Activity was light reflecting the absence of commercial activity. The volume reached 29,750 lots including 6,969 switches. Technically, a double bottom formation tested on Friday, and the breach of the short-term down trend could indicate a possible return to the recent highs. Commodity prices declined today. Cocoa suffered another blow as prices fell 14% to end at $9,150 per ton. Certified stocks increased 4,695 bags to 661,352 bags. Pending grading also increased by 4,515 bags to a new total of 60,719. Today a total of 4,820 bags were graded (3,995 BR, 825 HN), all of them passed. No bags failed grading.
Robusta Jul24 contract settled at $4164 with a 4239/4137 range. Market continues to operate at the lower end of the recent range with very little commercial interest. Sporadic roaster buying was seen scale down. Despite the softer market talk continues to circulate about issues in Vietnam and production / output which is providing support to flat price. Jul/Sep saw a 72/95 range on only 1.8k lots. Robusta Jul24 4000/3600 putspread vs sell 5000 call vs buy 4200Δ36 traded 1500x @ 58, Robusta Sep24 2800 puts vs 4105Δ3 traded 1000x @ 12, Robusta Sep24 3500 puts vs 4105Δ20 traded 1000x @ 101.
At the time of writing
USDBRL 5.1120 -0.07%
USDCOP 3912.6 +0.41%
Miami London Brazil
305-925-4847 +44-203-580-6099 +55-11-3509-5426
ICE Arabica
Volume:
29,750
ICE Robusta
Volume:
14,951
Brazil Arabica
Volume:
370
Arabica-Brazil Arbitrage
Arabica-Robusta Arbitrage
Arabica Switches
Robusta Switches
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