N.J. DOUEK
  • Home
  • Our Coffees
    • Montreal 'Spot' Offerings
    • New York 'Spot' Offerings
  • 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 New York
  • 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

Daily Coffee Commentary - June 17, 2021

6/18/2021

0 Comments

 
Arabica coffee futures closed lower Thursday in a broad market sell-off. The most active contract for  September delivery settled 385 points lower at 151.60 cents a pound. Speculative liquidation continued to be  encouraged by the weak technical perform. Since the breaking of the uptrend, more than 10,000 contracts  have been liquidated as evidenced by the open interest. A typical reduction of the OI is reasonable ahead of  the FND as well. Commodities declined hard affected by the rally of the US dollar, following yesterday’s FED  statement that they might bring forward interest rates hikes faster than expected before. The outlook for  beneficial rains for the US mid-west caused a sharp fall on the grain complex that spilled over other markets. In  the soft complex, sugar fell 2.6 % and Cocoa 1.78 %. As reported by Bloomberg, some commodities have  erased the 2021 gains. Support against the lower band of the Bollinger band and prices near oversold  conditions could help the market before the weekend.  
 
Robusta settled at $1598 per ton down $31 ref Sep. Market gaped down from the opening bell with the first  trades 19 points lower trading at $1610 held the previous day low at $1592 coming close to erasing all the  gains from previous session. Once again, the 20-day moving average provided support now standing at $1587.  The dollar seems to be taking a greater effect on Arabica with Robusta acting as secondary market and walking  down the latter slower thanks to partial support from the brasil real strength. Volume was moderate with  23,710 lots including 7,384 switches. Light business reported from Vietnam. Limited supply and weak demand  pushed traders to the Indonesian market. 
0 Comments



Leave a Reply.

Website: www.njdouek.com E-mail: info@njdouek.com
TEL: 514-845-9173 FREE:1-877-745-9173 FAX:514-845-8110 
  • Home
  • Our Coffees
    • Montreal 'Spot' Offerings
    • New York 'Spot' Offerings
  • 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 New York
  • 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