N.J. Douek Coffee - North-American Specialty Green Coffee Importer
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march 20,2023.

3/20/2023

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Arabica coffee futures May 23 contract settled 190 points higher at 178.50 cents a pound. After a slow start of the session the early pressure dissipated keeping the market in the consolidation range of the last two weeks, The NY market showed an increase of activity and strength into the close making new highs before the closing bell. The volume continues to be low, trading a total of 26,299 lots, including 6,364 switches. In general, markets had a slow start and were mostly mixed following this weekend’s developments. UBS agreed to purchase Credit Suisse for $3.23 billion, marking the end of a 167-year run for the institution. All the attention now turns to the Federal Reserve this week and their interest rate decision. Sentiment is mixed on whether the Fed will continue at its current pace or modify its monetary policy stance to accommodate markets. Certified stocks decrease by 11,302 bags to 776,073 bags, while stocks pending grading remain at 1,135 bags. No grading today.
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The London terminal reverses heavy intraday losses to end the session over $20 higher, as the $ index failed to attract a safe-haven play in response to the UBS/Credit Suisse deal. Heavy speculative pressure off the opening bell responding to broader macro negativity saw values gap $18 lower to swiftly reach the intraday low of $2023 on May 23. However, the early weakness started to slow as larger players bypassed the coffee sector to focus on other markets, and with an undercurrent of commercial buying in place, downside momentum stalled, forcing a short-covering rally. This prompted an impulsive move higher as values moved back above the previous key support resting around $2060, with the path of least resistance clearly higher as commercial selling was noted by its absence until we reached $2080. Amid a backdrop of firming structure and thin origin, pressure values held gains into the closing bell.
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Website: www.njdouek.com E-mail: info@njdouek.com
TEL: 514-845-9173 FREE:1-877-745-9173 FAX:514-845-8110 
  • Home
  • Our Coffees
    • Montreal 'Spot' Offerings
    • Montreal 'Spot' Offerings by Country
    • New York 'Spot' Offerings
    • New York 'Spot' Offerings by Country
  • 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 Montréal par Pays
    • Nos cafés à New York
    • Nos cafés à New York par Pays
  • 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