january 9, 2022.

Arabica coffee futures for March delivery closed 25 points lower at 158.05 cents a pound. The market was supported early by spec short covering as prices respected previous week’s lows. Activity recovery with the volume reaching 50,919 lots, including 13,052 switches. A weaker real and lack of solid buying reversed the action. Brazil’s currency fell on Monday after supporters of former president stormed the country’s Congress, the presidential palace and the Supreme Court in the capital, Brasilia, yesterday. The real declined 1.1% to BRL5.2600Certified stocks increased by 6,386 bags to 836,658 bags. Pending declined 10,512 bags to 196,192 bags. Grading today 16,157 bags. Passed 7,537. Failed 8,620. Technically, prices are in oversold terrain and vulnerable for a corrective up move.  
 
The Robusta terminal drives over 2% higher as the recent pre-Tet pressure eases whilst the speculative community responded to Macro positivity. Premarket sentiment favored the upside as participants focused on the broad re opening in China and USD weakness. This saw speculative buying engulf the opening bell prompting values to challenge the previous high at $1843 basis March23, before moving into a consolidatory phase below the short-term moving average. However, with a second wave of speculative buying and a layer of arbitrage related buying values reengaged the upside triggering stops through resistance $1860 on route to the intraday high at $1874 amid a lack of notable origin pressure. This buying slowed into the later stages prompted a marginal retracement into the closing bell.