The Arabica coffee futures market for July delivery ended Tuesday down 210 points at 213.60 cents a pound. The market remained sluggish with little commercial activity, although the breakout of a nearby area of recent consolidation caused some speculative selling in the early hours. From Colombia, traders expressed concern about heavy rains that have caused damage to the infrastructure. A main road linking the center of the country with the southern areas and Pacific ports is blocked by landslides due to heavy downpours over the weekend. The regular rainy season has increased due to the La Nina phenomenon.
Robusta saw a lower high and a lower low today, with a $29 range (hi $2055, lo $2026). Fairly resilient day with NY off 4.60 on the lows. Poor volume day 4.9k on Jul22 flat price. Jul/Sep continues to trade the recent range -5/0 settling at -2 unchanged. The most interesting thing today was the RC JUL22 2200C/1900P fence traded 750x @ 1 (pay for the put). Commercial activity seems limited for the time being.