Morgan Stanley Coffee Report

KC trading could easily be broken into three tight ranges today, with early commodity friendly performances in other assets lending a hand through a quiet European session, a strong early day Americas’ environment, and finally late session weakness, all of which featured poor volume.  The notable uptick in participation surrounded the 11:50am EDT time was an anomaly, as a determined seller(s) found substantial resistance materialize before a battle for a positive close came up a couple ticks short.   While commercials from both origin and roasting sides seem willing to wait out current levels, interest on both sides of the market appears to be deepening should a definitive break one way or the other materialize.  Until then, it appears the CRB will continue to hold serve.