N.J. DOUEK
  • 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

october 18, 2022.

10/18/2022

0 Comments

 
Arabica coffee futures on the ICE New York closed lower Tuesday. The reference month for December delivery closed 45 points lower at 195.10 cents a pound. Fund liquidations continued to put pressure on prices which fell to the 193.20 level in early hours. The funds’ liquidation has been triggered after the market broke a four-week consolidation area, last week. A better perspective for the Brazil 2022 crop and the concerns for a recession have fueled the bearish sentiment. Support at the 191 level and oversold technical conditions discouraged short players, causing a small price rebound for the end of the session. Volume was moderate with 36,877 lots traded, including 9,479 switches. Latin American currencies were mixed. The Brazilian real recovered 0.2% to BRL 5.2628, while the Colombian peso fell 0.3% to a new historical low of COP 4,785. ICE certified stocks fell 600 bags to 397,399 bags, a new 23-year low. Pending classification remain at 3,436 bags. No grading reported today.  
 
Robusta Jan22 contract settled at $2034 -11 with a 2031/2059 range. A small test below previous day lows mirroring Arabicas activity as the dollar and the Brazilian Real offer a bit of support. Stock futures soared again this morning as early earnings reports ease concerns about the economy. Ironically, it’s that resiliency in the economy that suggests that systemic inflation will remain a problem for the foreseeable future, requiring more aggressive action from the Federal Reserve. Multiple Chinese airlines announced to resume of international flights and increased flight frequencies at an accelerated pace by the end of October, sparking wide speculation in domestic that a relaxing border policy for international travelers may come soon after the close of the 20th Congress on Sunday.
0 Comments



Leave a Reply.

Website: www.njdouek.com E-mail: info@njdouek.com
TEL: 514-845-9173 FREE:1-877-745-9173 FAX:514-845-8110 
  • 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