february 9, 2023.

Arabica coffee futures settled lower Thursday buy remained inside same range of last five sessions. The most active March contract closed 195 points lower at 173.65 cents. Volume reached 75,372 lots including 26,488 switches. The real declined 1.1 % adding some pressure on coffee prices. The Brazil’s currency ended at BRL 5.2720 from BRL 5.2007 it settled the previous day. The March options expire tomorrow, leaving the market freer for a break of the recent band. After the close, CECAFE (Brazil Exporters Association) published export data for January. Total exports were down 18,5 % at 2.52 million 60-kg bags vs. January 2022. Arabica 2.433 million bags or 18.7 less than last year, and Robusta 87,584 bags or 12.3% less than January 2022. The CFTC has yet to announce when it will release the COT data suspended after the ransomware attack on ION UK. Cert stocks declined 11,211 bags to 880,722 bags. Pending grading: 0. Grading today: 3,000 bags. 0 Passed. 3,000 failed.  
 
Robusta MAY23 contract settled at $2032 -25 with a 2059/2017 range. A test of the lower end of the recent range at $2017 (base K3) flat price seems to have found a new 2020/2080 range until fresh macro / fundamental forces force a breakout. Small origin selling seen in the early part of the session but aside from that very quiet from commercial players. Volumes hovered around 8k o the most liquid contract. ICE ROBUSTA  Mar23/May23 traded 2.3k lots between 2/10 with most of the volume trading at +7. May23 2000/1800 put  
spread vs 2033Δ28 traded 1500x @ 58