The Arabica market settled with a 50 point gain at 93.15 amidst tranquil dealings in the outrights and an unchanged structure. Prices traded to the tempo of the BRL, for lack of a better excuse, with the high in both markets occurring shortly after the currency markets started actively trading. KC opened on the low of 92.55, then managed to trade a 6 day high of 95.10, before prices succumbed to a lack of upside momentum, and gravitational forces pulled the market back to 93 cents by the closing print. Open interest fell by 2,115 lots, its 10th drop in the last 11 days, and has fallen 25,395 lots since April 15th, the biggest caveat obviously being the approach to FND into 14 year lows. Across the pond, May open interest still stands at 4,238 lots while notices remain a scant 100 lots to date. Robusta traded an inside $13 session settling plus $4 at 1407 MT.
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