Morning Commentary for Wednesday the 28th

 

Morning  Commentary from Fc Stone 

·ICE Arabica Futures March  Contract is trading unchanged  this morning.

 ·LIFFE Robusta Futures January  Contract opened $1 lower at  $1,910 a ton and are currently trading $7 higher at   $1,918.

 ·US markets slumped on Tuesday  after House of  Representatives Majority Leader Harry Reid expressed frustration  over fiscal  cliff talks. Asian and European stocks are reflecting this as   well.

 ·The Organization for Economic  Cooperation and Development  cuts its growth projections for the US and 17 Euro  countries saying that the  combined European economy will shrink  0.4%.

 ·The European Commission has  approved 40 billion euros in
aid for Spain to restructure its national bank  system.   


Today’s   Arbitrage:

 NYBOT March 2013/ LIFFE January   2013:  -.6248

 NYBOT March 2013/ BM&F  March  2013:  7.1272