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Morgan Stanley Coffee Report - Sept. 24, 2020

9/24/2020

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Arabica recorded the dullest trading day in months, yet captured the elusive-of-late positive finish, closing 111.15 +.65.  Following yesterday’s consolidation signal, futures posted an inside day, the first since September 11 which was coincidentally the last time KC managed a positive close.  The settle was indicative of the day, less than 2 ticks off the VWAP in Dec & March.  Volume was light – the lowest since … September 11th – in total exchange traded futures, and the outright implied futures total was the lowest since Aug 24th.  Price largely took its cue from the DXY on a twitchy FX trading day, with intraday dips in KC lining up with the dollar’s pushes higher.  Weather may have been a factor in keeping new selling at bay as a high pressure ridge is forecast to keep rain at bay for the next 10-14 days with hot temperatures prevailing in Brazil.  ZH gained a tick to -1.70, continuing to tell a different cert story than the narrative does, while ZZ gained 45 points to -6.55.  Certs fell 1122 to 1,103,566.  Pendings rose 2750 (all in Germany) to 10,436.  No coffee was graded.   Z 120 C led the option volume board at a mere 648 lots.  Robusta gained $3 as well, closing 1352. U/X is effectively finished after a long journey, with the single lot of remaining OI trading out at a $58 premium.
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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