Coffee Falls on Profit Taking
Arabica coffee futures retraced today after posting their highest prices since Sep 2022 early in the session. The most active contract for July delivery settled 925 points or 3.37 % lower at 231.10 cents a pound. Volume reached 62,652 including 27,417 switches. An area de resistance above 245, highs of September and June 2022, prompted the speculative liquidation at the same time as the recent commercial short covering eased ahead of the FND for the May position. The open interest declined 4,086 lots as of yesterday, evidencing the latest dealer’s action. The dollar was firm following constructive U.S. labor market data. Crude oil declined, affecting the Latin American currencies of Mexico and Colombia. Arabica cert stocks increased by 4,254 bags to 635,110 bags. Pending grading were down 1,504 bags to 56,344 bags.
The Robusta Jul24 contract settled at $4062 with a 4292/4044 range. Extremely volatile day with a new all-time high for 1st and 2nd month, 10- and 5-tons contracts. Started the session with what seemed like business as usual with plenty of MOO buying pushing prices higher. The market was unable to hold on to the gains. Weak longs liquidated and hedges were put back down. The buying dried up, and the market came crashing back down (still above yesterday's day low) with no one wanting to catch the falling knife. Volumes continue to be well above ‘’normal’’ with over 16k lots trading on Jul24 alone. Robusta Sep24 3500/3000 put spread traded 1000x @ 87, Robusta Jul24 5000 calls vs 4185Δ20 traded 500x @ 80
At the time of writing
USDBRL 5.2483 +0.12 %
USDCOP 3928.6 +0.82%
Miami London Brazil
305-925-4847 +44-203-580-6099 +55-11-3509-5426
ICE Arabica
Volume:
62,652
ICE Robusta
Volume:
27,417
Brazil Arabica
Volume:
1,323
Arabica-Brazil Arbitrage
Arabica-Robusta Arbitrage
Arabica Switches
Robusta Switches
The StoneX Group Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to over-the-counter (“OTC”) products or swaps are made on behalf of StoneX Markets LLC (“SXM”), a member of the National Futures Association (“NFA”) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. SXM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of SXM. StoneX Financial Inc. (“SFI”) is a member of FINRA/NFA/SIPC and registered with the MSRB. SFI is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Adviser. References to securities trading are made on behalf of the BD Division of SFI and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of SFI . StoneX is a trading name of StoneX Financial Ltd (“SFL”). SFL is registered in England and Wales, Company No. 5616586. SFL is authorized and regulated by the Financial Conduct Authority [FRN 446717] to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. SFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. SFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. SFL is a category 1 ring-dealing member of the London Metal Exchange. In addition SFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. StoneX Group Inc. acts as agent for SFL in New York with respect to its payments services business. StoneX APAC Pte. Ltd. acts as agent for SFL in Singapore with respect to its payments services business. ‘StoneX’ is the trade name used by StoneX Group Inc. and all its associated entities and subsidiaries.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. Past performance of any futures or option is not indicative of future success. Indicators are not a trading system and are not published as a specific trade recommendation. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security. It does not take into account your particular investment objectives, financial situation or needs and does not create a binding obligation on any of the StoneX group of companies to enter into any transaction with you. You are advised to perform an independent investigation of any transaction to determine whether any transaction is suitable for you. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc.
© 2024 StoneX Group Inc. All Rights Reserved.
Discover more insights
