Arabica took its cues from the FX market, slipping under the weight of the DXY and BRL as the latter traded to the verge of 3.70. KC closed 117.05, -55, and while spec selling dominated the day, roasters were all too happy to accept price as they added impressive length throughout the morning. Origin was reported to be around, though we did not see it in any meaningful quantity, and much of the trade was dubious as to their impact. Interesting late day buying sent KC spiking higher in a short lived rally as iceberged offers were eclipsed, gaining around 75 points on modest volume before being sold back down. Robusta featured more volatility in thinner trading – seemingly attracting less algorithmic depth – yet largely remained in tune with her sister market. Origin was quiet from our perspective on London as well, a bit of an outlier considering how prevalent their selling has been on our books for quite some time.
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