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Daily Coffee Commentary - June 8, 2021

6/9/2021

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Arabica coffee futures finished lower Tuesday at the end of a session dominated by spreads trading. The benchmark contract for July delivery settled 245 points lower at 157.70 cents a pound. Volume reached 82,316 contracts including 29,114 switches. The nearby July /Sep switch widened to -2.15 cents reflecting the long fund rolls ahead of the FND June 22nd . Light rains in Brazil Parana and Mogiana areas were reported during the last 24 hours. A more ample coverage will continue until middle of next week, however only small accumulations are expected. According with news cables, international buyers have suspended buying coffee from Colombia due to the non-compliance and shipment delays. Despite some blockades have been removed, still there are disruptions. Shipping from Atlantic ports is more costly. Certified stocks increased by 3,277 bags to 2,109,297 bags. Pending 97,538 bags. Grading today 15,374. Passed 11,412. Failed 3,962. Technically, the trend remains bullish with support at 156 and resistance at 167, basis the July contract.
 
Robusta settled at $1596 per ton down $29 ref Jul, Market traded through previous day high at $1636 finding heavy resistance above the upper Bollinger band at $1638 tracing down all gains from yesterday successfully breaching the low at $1589 and testing around the 8 day moving average at $1585. Volume has double in the last week trading 35,364 lots including 11,045 switches.
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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