N.J. DOUEK
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Morning comments from Altico Trading

6/6/2016

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Good Morning!! After holding above the recent lows for the better part of the past two weeks, coffee prices appear to have taken a turn to the upside but are likely to need more than positive outside markets to sustain any recovery move. July coffee closed sharply higher Friday as it finished last week's trading with a gain of 5.80 cents (or 4.8% higher). Recent rainfall over Brazilian growing regions have slowed down harvest progress (and likely slowed their hedge selling as well). Brazil's Arabica crop is still widely expected to see a sharp increase, but a slowdown in coffee reaching Brazilian ports could extend a period of tight near-term supply. Outside markets were a major source of strength highlighted by a sizable recovery rally in the Brazilian currency. ICE exchange coffee stocks rose by 2,440 bags on Friday and while they remain close to multi-year low, have now risen for 2 sessions in a row which in turn may dampen what has been a generally positive tone. Near-term resistance for September coffee is at the 130.90-131.15 zone. Support is back at 127.65 and 127.05.
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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
  • Useful Info
  • Accueil
  • 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