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Morning Commentary for Friday Jan24

1/24/2014

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    Good Morning! Coffee prices continue to erode but a longer term positive demand outlook and uncertainty over the size of the Brazil 2014 crop remain as potential positive force. If the weather pattern returns to a more normal pattern, traders could see a Brazil crop of around 55 MM bags and a world production surplus of 3-4 MM bags, for now some dryness persists fo some of the growing areas which can be supportive as it lowers market production forecasts. This weeks sell off in the Brazilian Real is also prividing a source of pressure as it will make export firms more aggressive with marketing their supplies to foreign customer. There is still no technical sign of a near term low, and the market may need to absorb some more producer selling in the near term before it make the next move higher. Support comes in at the 113.50 area, while resistance above the 118.00 area is needed to be broken to turn the short term trend.

 By Alonso Tomas --Altico Trading





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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