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Morgan Stanley Coffee Report - Dec 22, 2020

12/22/2020

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Arabica saw a downtick in participation en route to a 124.20, 10 point loss.  While the daily marker was negative it provides something of a misimpression as the day’s trading happened at a higher price overall – KCH VWAP 124.83 vs yesterday’s volume weighted avg price of 123.07.  An opening spike lower was immediately erased and futures were remarkably quiet during the overseas session.  A strengthening BRL led KC higher from 8am until just about 9 when an FX reversal (and day long USD strength) dragged KC back to unchanged over the following 2 hours.  Brazil inflation, while slightly below expectation, nonetheless hit its highest mid-month reading in over 2 years as the December IBGE MoM hit 1.06% and YoY narrowly topped the last reading at 4.23%.  Food rose 2%.  Spreads weakened, HK a tick to -1.95 and HH 45 points to -7.70.  Certs rose 8870 bags with pendings at 60,920.  Robusta closed $4 weaker in March, 1379.  Tomorrow is the last day to clean up unwanted January positions ahead of Thursday’s FND.  FH gained $1 to -21.
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  • Home
  • Our Coffees
    • Montreal 'Spot' Offerings
    • New York 'Spot' Offerings
  • 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 New York
  • 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