november 14, 2022.

After a sluggish session Friday, Arabica coffee market started the week unable to build on the momentum of the dollar’s correction last week. Weather conditions have brought good rains in Brazil over the weekend. The funds continue to add to their short position and the switch Z/H traded below even, with a range of +1.50/-  
0.90 a settlement @ -0.70. The most active contract now for March delivery closed 120 points lower at 166.90 cents a pound. Total volume was moderated with 51,509 including 16,747 switches. A large volume of coffee entering ICE warehouses for certification has fueled the bearish sentiment since the last week of October. Today the certified stocks increased by 14,235 bags to 468,291 bags. The pending grading increased by 84,897 bags for a total of 541,030 bags. A total of 17,640 bags were graded today, 14,650 passed and 2,990 bags failed. Robusta JAN23 contract settled at $1824 -12 with a 1838/1793 range. Another choppy day with no clear direction. 1790/1900 range remains intact. Arabica saw early pressure from the open which led to a test of the recent lows in Robusta. From then the selling eased up and market regained much of its losses. Volume remains on the low end of 5.8k lots trading on the most active F3 contract. JAN/MAR saw 1.2k lots trade between 6/12. JAN23 1800 puts traded 500x @ 62 LU with 48delta.