september 12th 2022
Arabica coffee futures declined on Monday as showers during the weekend and forecasts for more rains had reduced the concerns about the dry conditions in Brazil coffee producing areas. According with weather analysts, the next ten days, the southern coffee areas will receive moderate to possibly heavy rains that could
interrupt the dry pattern. The most active contract for December delivery settled 375 points to 224.75 cents a pound. Volume remained light with only 21,292 lots traded and 3,765 switches. At the same time a weak technical performance encouraged selling. A small rally during the early hours failed to attract solid buying as prices encountered resistance against previous session’s high. Arabica certified stocks declined 13,080 bags to 602,742. Pending grading: 20,549. No grading today.
In London, the Robusta futures for November delivery closed at $ 2262, down $2, after trading inside 2244-2271 range. The euro recovered today helped by ECB signals of aggressive monetary policy.
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