Arabica closed out the week in poor fashion, settling 90.60, -95, having traded into a fresh low for the week on the settlement period on what was far and away the best volume of the day. A familiar arb was present, with Coffee and Sugar trading the Americas session in tandem (and in opposition to a strengthening BRL) as Crude and the BCOM at large ascended. Discretionary buyers were in short order, seemingly dissuaded in part by the admittedly modest arrival of yet more Hondurans at the exchange. Robusta continues to find new ways to depress, falling $19 to 1345. Yet another contract low was posted, taking out the Feb 2016 level by $1, and finding “support” a mere $2 above the 19 year lows of Jan 2016 (1339).
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