N.J. DOUEK
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Daily Coffee Commentary - June 21, 2021

6/22/2021

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The New Yok coffee “C” closed higher today supported by speculative short covering after the market bounced  from previous session’s lows. The most active contract for September delivery settled 210 points higher at  
154.05 cents a pound. Volume declined to 42,012 lots, reflecting less spreads activity ahead of the FND  tomorrow. Coffee prices have been under pressure during the recent sessions falling more than 11 % from the  highs Short players participation has been attracted because of the heavy spec liquidation and origin  selling. Technical factors and the respect of the support levels discouraged additional selling today, and at  the same time triggering the short covering. The diminished commercial selling helped the market. Dollar  weakness added lending support to the commodities with the dollar index losing 0.4%. The Brazil’s real gained  1.3 % before the dollar, trading at BRL5.0170.  
 
The Robusta market posts a resilient performance once again holding support resting at nearby averages just  below the phycological $1600 marker basis Sep21. The market has now formed a solid baseline at $1592 as  values have failed to attract sustained selling at the lower end of the recent range, with both origin and spec  pressure unwilling to track weakness. This has allowed primary focus to shift back toward July21 management  as first notice day approaches with the overnight exposure 17,879 lots nearing the current certified stock  levels standing overnight at 15,276, with the market waiting to see if a financing roll is registered via EFP over  coming days indicating unchanged certified ownership. 
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  • 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
  • Accueil
  • Useful Info
  • 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