Arabica coffee futures fell Thursday on mostly quiet day. The July position settled 340 points lower at 188.20 cents a pound. Activity was light with the volume reaching 22,051 lots, including 5,654 switches. Weather reports indicating rains developing across the coffee belt could cause a delay of the harvest. In some areas, the Conilon harvesting has begun. Commodities in general were stable, despite some pressure from a firm dollar. Expectations that the FED increases the interest rate next week keeps the US currency firm. Arabica certified stocks declined by 11,216 bags to 687,652 bags. Pending grading 0.
Robusta Jul23 contract settled at $2405 -8 with a 2419/2377 range. A slow day with low volume. Origin selling was present in the early part of the session but in small volumes, this pressured flat price which struggled to find any meaningful buying. Market recovered slightly in the US session possibly seeing some speculative Arb selling but unable to find a sponsor back to test the recent highs. Uneventful day on the spreads with Jul/Sep trading only 2k lots between 22/25 settling unchanged at +22. We had 326 tenders today, mix of Indo / Viet bringing the total so far to 1987 vs May23. El 2150 puts vs 2374Δ22 traded 2000x @ 45, Jul23 2250 puts vs 2398Δ24 traded 2000x @ 36, Sep23 2200/2000 put spread traded 2000x @ 45.
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