Morgan Stanley Coffee Report - Oct 26'17

KC managed to hold yesterday’s 15 week low by 30 points and traded in a range of down 10 to plus 210 on the day, ultimately settling with a 90 point gain.  The rhythm of trading mirrored that of the BRL which traded steadier on the day but started to erase gains once news got out that President Michel Temer was not feeling well and hospitalized in Brasilia as the lower house gathered to vote (currently delayed) , on whether he should stand trial before the Supreme Court on corruption charges. Open interest climbing by 3,733 lots  encouraged discretionary spec and bits of industry buying however overall volume was light and volatility went lacking.