Morning Coffee Commentary for Jan 9th

 ·ICE  Arabica coffee futures opened 155 points lower at  146.60, before recovering
slightly to 147.50 as of this writing.

 ·CONAB’s  first estimate of Brazil’s 2013-14 crop at 46.9 to  50.1 million bags.   On
December 20th, CONAB raised the 2012-13   estimate to 50.8 million bags from 50.5 million last September.

 ·The  LIFFE Robusta market for March delivery is up $15 at  $1,930.  Spec and industry
buying are supporting the market  today.

 ·The  US Dollar is firm against major currencies .  The Euro  traded down to 1.3052,
the low after data showed German industrial output  inching up 0.2 % on the
month.

 ·The  Brazilian real opened flat. Market participants remain  concerned with
government policies in the power sector.