january 24, 2023.

Arabica coffee futures for March delivery settled 130 points higher at 159.85 cents a pound Tuesday. The action was supported by speculative buying and mostly dominated by spreads trading. The volume reached 52,786 lots including 16,853 switches. The active March / May switch narrowed 35 points to end at -0.25 discount, despite a large increase of the coffee pending for grading last night, that had suggested a possible weakening of the structure. No activity was reported in the cert’s stocks today. Latin American currencies continued to be supported by higher commodity prices. Technically, resistance remains near the 162 level, Bollinger mid-point, and short-term down trend. Oscillators are lacking momentum.  
 
Robusta MAR23 contract settled at $1943 +2 with a 1936/1954 range. Volume was moderate trading 15,906 lots including 3,005 switches. Slow session in observance of TET holiday.