november 30, 2022.
Arabica coffee futures closed slightly higher at the end of a session with moderate activity. The contract for March delivery closed 100 points higher at 169.90 cents per pound. The sentiment was supported by the continued recovery of the commodity and equity markets. The dollar loosened a bit adding support too. The greenback lost ground after J. Powell said that the FED could scale back the pace of the interest rate hikes as soon as in December. The Brazilian real recovered 1.2% trading at BRL 5.1931. In Colombia, the Ministry of Finance announced the suspension of future coffee purchases in order to prevent defaults presented this year. Today, 26,420 bags were classified, of which 17,058 were approved for certification while 9,077 were rejected. The total number of certificates increased by 15,862 bags for a total of 591,769 bags. Pending certification are in 465,218 bags.
In London, the Robusta contract for March delivery rose $16 to $2,498 a ton, after trading between the 1831/1850 range. Indonesia's exports in October reached 32,290 tons or 15.69% higher than the same month last year, however they were 40% lower than in September.
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