november 28, 2022.
Arabica coffee futures for March delivery closed 220 points lower at 162.85 cents a pound, affected by concerns over China's weekend unrests and protests against the COVID lockdown policy. The volume barely reached 18,433 lots including 3,832 switches. Other markets in the softs complex, such as sugar and cotton, lost ground, while cocoa finished unchanged. Latin American currencies rallied bit despite the dollar showing strength. Brazil's real ended 0.5% higher at BRL 5.3743, and its Colombian pair 0.5% higher at COP 4,830. Today the certified stocks increase by 7,915 at 565,853 bags. The pending grading decrease by 11,900 bags for a total of 505,069 bags. Total graded 13,145 bags, Failed 5,230, Passed 7,915.
Robusta JAN23 contract settled at $1855 -2 with a 1868/1843 range. Quiet low volume day. Origin was layered above the market and with no real speculative activity Robusta could not get above Fridays highs. Volumes on flat price were low with 6k lots of Jan23 trading, Jan/Mar continued to test new highs with a 38 print (shorts getting out of JAN23) but settling unchanged at +29. Robusta Coffee Future - ICEU - Buy Jan23 1750 puts - Buy Mar23 1950 calls - Buy Δ16 Jan23 1860 - Sell Δ30 Mar23 1828 traded 1050x @ 48, Robusta Coffee Future - ICEU - Jan23 1950 call traded 1000x @ 15.
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