N.J. Douek Coffee - North-American Specialty Green Coffee Importer
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Atico Trading Commentary

1/19/2016

1 Comment

 
Good Morning!! The market stayed within a fairly tight trading range over the last few sessions. Bearish supply news is clashing with the oversold condition of the market and a shift to improving outside market forces this morning to spark some short covering support. March coffee closed 100 lower on Friday and this left the market down 410 points for the week (or 3.4% lower). Outside market forces were bearish as the market tested last week's contract lows but managed to hold. Vietnamese coffee exports last month were over 50% above November's levels and well above market forecasts, which indicates that nation's producers are starting to let go of their near-term supplies before a recovery in prices can occur.  While the upcoming 2016/17 Brazilian crop is still five months away from the start of harvest and understandably has a fairly wide range of estimates, continued rainfall over key growing regions in the state of Minas Gerais have increased the chances for a sizable increase over this year's crop.  Selling resistance is at 118.55 and 120.15. Close-in support is at 114.30 and 113.50. New lows count to 110.35 as next target.
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8/30/2023 06:41:17 pm

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  • Home
  • Our Coffees
    • Montreal 'Spot' Offerings
    • Montreal 'Spot' Offerings by Country
    • New York 'Spot' Offerings
    • New York 'Spot' Offerings by Country
  • Our History
  • About N J Douek
    • Some of our services
    • Meet some of our team
    • Our Cupping Room/Offices
  • Coffee Commentaries
  • Price charts
  • Contact Us
  • Useful Info
  • Accueil
  • Nos cafés
    • Nos cafés à Montréal
    • Nos cafés à Montréal par Pays
    • Nos cafés à New York
    • Nos cafés à New York par Pays
  • Notre histoire
  • À propos de N J Douek
    • Certains de nos Services
    • Rencontrez notre equipe
    • Notre labo et bureaux
  • Nous contacter
  • Informations Utiles
  • Chartes de prix