august 22, 2022.

Arabica coffee futures rose today helped by fresh funds and specs buying. The most active contract for December delivery closed 785 points higher at 221.20 cents a pound. The activity was mostly dominated by switches. The volume reached 48,804 lots, including 13,989 switches. The nearby switch, September- December, traded within a wide range of 2.20 cents, losing 1.25 cents at +1.35 cents. The already reduced purchases of the industry and covering of short spreads have been reflected in the loss of the premium of this spread. A constructive technical formation encouraged buying by speculators who now anticipate the market entering a period of little origin sales until the start of the next harvest. The exceeding of last week's highs added the bullish sentiment. Certified stocks increased by 17,070 bags to 627,750 bags. The pending grading  decreased by 16,430 bags to 212,056 bags. Grading today at the Antwerp terminal: 20,270 bags. Passed 17,070 bags . Failed 3,200 bags .  
 
In London, the Robusta market for November delivery settled $17 higher or 0.8% at $2,243 a ton. The action did not follow the New York action as less speculative participation was noted. Arbitrage buying kept Robusta prices under pressure. The Arabica premium has been declined from $1.40 to $1.12 recently, attracting good  buying interest. The market remained inside the same range of the last 1-1/2 week, without any clear technical signal. The dollar strengthened on risk aversion pushing the euro back below parity. The dollar index  ended at 108.95, the high level since 2002.