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Morgan Stanley coffee report - June 12

6/12/2020

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Arabica closed out the week sinking to 97.00, -0.70 basis KCU, holding the lifetime contract low by a mere 30 points.  The day started off well, gaining steam during the overseas hours before trading a day over day high around 7am EDT.  Some catchup weakness from the BRL was  to be expected, however the chart was showing signs of a short term low having been made overnight and risk was primed for a rebound.  By end of the day however, the commodity complex was broadly lower, dollar was +0.67%, BRL -2%+ at its low, the S&P had swung negative, and  spec selling appeared to successfully defend the 9dma.   Option expiration seemed likely to hold prices in place and that they did; KCN came perilously close to the 95 line, settling 95.20 after posting a 94.90 low, and it will be interesting to see if there are any in the money calls abandoned or out of the money puts elected (1199 N 95 P OI entering the day).  Robusta too suffered, slipping $15 to 1212.  Pre-settlement selling was noted driving prices to their low as the weekly marker set to commence.  N/U went out unchanged at -31.  Certs fell again in both markets, but seem to be an afterthought for the moment.  London inventories were down another 87 lots / 14,500 bag equivalent, while NY stockpiles fell 8681 bags to 1,673,403.  4675 were graded overnight, 3025 passed for a gross draw of 11,706.
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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