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Morgan Stanley Coffee Report - February 24, 2021

2/24/2021

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​Arabica recorded a step backwards in both price and liquidity as futures fell 105 points to close 137.25.  Whether this proves to be a “pause that refreshes” or the beginning of the end is very much a topic of disagreement between bulls and bears.  For the moment there is unease between the momentum signals which are bullish and oscillators which suggest the need for a pullback.  Today’s highs fell just short of trendline resistance going to November’s highs, yet the late day weakening did little to put recent shorts under significant water; since Monday’s breakout the VWAP has been 134.75 with the largest entry buckets at 135 and 137.  Total volume was around 32k lots below the past 2 days’ 72k lot performances, a large step back that was reflected both in smaller outright and spread activity.  Spreads were mixed with KN a tick wider at -1.80 and KK unmoved at -6.50.  London held its gains better against motivated origin selling thanks to a persistent bid, gaining $3 to 1463.  Counterintuitively the spread weakened however, K/N $4 wider at -19.  H/K was flat at -16 as notice period continues with 6425 lots of OI remaining & 513 conilon tendered on the day.  
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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
  • Accueil
  • Useful Info
  • 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