december 13, 2022.
Arabica coffee traded in a 400-point range, significantly tighter than a previous day range of 1,305 points. The NY market extended the gains on the early hours after a slightly better than expected US CPI announcement. The most active contract Mar23 settle 85 points higher at 167.90 cents a pound. The volume reached 35,018 contracts including 9,033 switches. The Market keeps the near upside target at the upper Bollinger band today at 170.65 as we await the US FOMC rate decision tomorrow. Arabica cert stocks increased by 12,074 bags to 717,646 bags. Pending decrease 82 bags to 346,116. Grading today: 18,055 bags. Passed 12,074, Failed 5,981.
Robusta MAR23 contract settled at $1872 -12 with a 1888/1865 range. Fairly quiet session that went against the grain of the wider commodity markets. Wider markets were helped today with the lower US CPI inflation print but this was not enough to trigger a ‘’green’’ day for Robusta. Plenty of origin selling at current levels really weighed on flat price in particular the MAR23 contract. Volumes remain around the 10k mark on H3 which is around average for the last few sessions. JAN/MAR had a 15/29 range on 3.8k lots settling at +20 unchanged. Jan23 1950/1800 put spread vs 1895Δ69 traded 300x @ 59.
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