N.J. DOUEK
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february 15,2023

2/15/2023

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Arabica coffee futures suffered heavy liquidation Wednesday that erased all the gains from the previous session. Long players were disappointed as the market was unable to exceed yesterday’s highs. With the recent estimates sustaining a smaller Brazil’s 2023 crop than prior expected, participants were anticipating a strong advance today. The most active contract for May delivery settled 625 points lower at 177.00 cents a pound. Volume declined to 55,311 lots, including 17,192 switches. Last minute origin selling ahead of the first notice for the March position on Friday added pressure on the prices. A double top pattern on the charts cautioned technical players that now are eyeing the performance of the market against the support area at 172, which must be respected. Cert stocks were down 25,165 bags to 844,914 bags. Pending grading remained at 0.  
 
GCA US Stocks fell by 112,895 60-kg bags at the end of January to 6,264,956 60-kg bags, the lowest level in six months. . This is the largest draw since Oct 2021. Robusta MAY23 contract settled at $2049 -21 with a 2068/2042 range. Activity mirrored that of Arabica at a slightly lower pace trading inside previous day range. London market made the move to the downside on the early hours after the NY market corrected acknowledging the OI change. The volume has remained constant trading 17,558 lots including 5,975 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
  • 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