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Morgan Stanley coffee report - May 11, 2020

5/11/2020

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Coffee fell 90 points, settling  110.75 in macro dominated trading.  The dollar rose a hefty 0.5%, the BRL weakened 1.7% to 5.83, and selling hit commodity markets down the board; the BCOM is down a near equal 0.9% to Arabica’s -0.8%, while softs fell 0.84% as a basket.  The Dollar / commodity layover was compelling and while KC held on mid morning better than most, ultimately the path was the same.  Spreads were steady with trading overall a bit quiet.  The KCN VWAP was only 20 points off Friday’s at 111.37, outright volumes were the lowest in 3 days, and total volumes were at a 1 week low.  Another large EFS was noted in KCZ, 2038x with most guesses pointing to Brazil.  London played catchup from Friday, bouncing on the close and gaining $12 to 1198.  Tenders were 0.  Robusta inventories fell 4500 bags, outpacing NY’s 3034 – sort of.  10,325 bags were approved from the pending bucket, which implies a gross outflow of 13,359 bags.  Coincidentally that is the exact count of today’s pending pile.
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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