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Morgan Stanley Coffee Report

3/31/2016

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Quarter end considerations marked the tempo of today’s trading as books were closed on what has been a very interesting month of March.   The month came in like a lion, with a 23 cent rally from 11340, 5 points above a 2 year plus low, in a fund buying frenzy which caused Arabica prices to climb 23 cents higher (20%), by the 23rd, and has been followed by what appears, until and unless proven otherwise, to be a phase of consolidation.   Weakness in the dollar, courtesy of a slowdown in global economic conditions, ran tangentially to political turmoil in Brazil as the “Carwash” scandal probed into the highest ranks of Brazilian government.  The real strengthened by 12% as financial markets took solace in the potential that President Rousseff might face impeachment, and the dollar index alone weakened by 4%, all combined to catalyze a 10% rally in the CRB index and along with it a much longed for boost in coffee prices.  A drop of another 115,000 bags of certified stocks on the month brought the ytd drawdown to 296,000 bags lending a bid to the structure, coincident to funds reversing their net shorts to a net long position at a record pace.  March certainly provided a welcome relief from the tedium, leaving one to ponder what April will do for an encore.            
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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