May 08,2023.

Arabica coffee futures traded in another 650-point day range, making new highs at the beginning of the session, and giving back most gains from Friday after a probable cold front expected for May 13th showed temperatures less harmful for the crop. Weather will continue to be monitored as participants are trading in oversold territory on the daily charts. The area of 184.00 continues as a point of consolidation. The most active contract, JUL23 settled 410 points lower at 183.95 cents a pound. U.S. consumer credit rose much sharply than expected in March, with Friday's reading showing an increase of $26.51 billion, well above market expectations of a $16.8 billion and marking the largest increase seen since November. February was also revised higher to show an increase of $15.29 billion. Later this week we have US CPI on Wednesday and PPI accompanied by jobless claims on Thursday. Arabica certified stocks decrease 2,141 bags to 655,156 bags. Pending grading 0.