N.J. DOUEK
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Morgan Stanley Coffee Report

5/9/2016

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The Arabica market gapped a cent higher on the opening courtesy of spec buying sparked by Friday’s COT report which showed funds to be shorter than the market had been anticipating. The market held steady until U.S. traders manned their desks and another round of spec centric buying carried the market to a high of 12650 before running out of steam, and into some origin. Prices meandered about in a 12650 - 12500 range until Brazil’s house chief Waldir Maranhao accepted a request from the government’s attorney general to annul the procedure that approved the impeachment motion in the house. Confusion prevailed which led to a selloff in the real from 3.53 to 3.67 $/r , instigating a corresponding drop in coffee from 12550 to 12325, before both markets gathered composure whilst looking for clarity. The initial negative spiral paused as the agenda of the statement came into question as did the prospect being raised that a supreme court ruling would cancel the house chief’s decision in a move seen as yet another attempt to delay Rousseff’s ouster. Coffee prices reverted to climbing higher ultimately trading a new high of 12660 on the close. An interesting session which served to reminds that defense is the best offense as the
situation in Brazil is far from resolved

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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