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september 26 2022

9/26/2022

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The Arabica coffee futures market closed with gains Monday at the end of a highly volatile session in which it traded within a range of more than 13.00 cents. The December contract closed 3.35 cents higher at 223.80 cents a pound. Activity picked up with volume reaching 38,293 contracts, including 7,888 switches. Volatility affected the nearby Dec/Mar too that ended at 7.35 cents after trading between 5.20 to 7.45 cents. An aggressive short-covering rally that found no selling boosted the market up nearly 5% to a high of 232.05 cents. The pessimism as the global economic dims had caused an early selling but failed to generate enough downside momentum. News about Brazil's production data revision by CONAB and rain forecasts for the next days had fueled a bearish sentiment. Certified stocks fell 11,619 bags to 460,387 bags, the lowest level in 23 years. Pending grading remains at 320 bags. There was no grading today.  

In London, Robusta futures followed the NY action but in smaller proportion with a more dramatic close marking and outside day down. The November contract settled at $2204 -28 with a 2191/2248 range. As the GBP continues to make new lows today at 103.9, Robusta could also extend to new lows tomorrow probably testing the area around the 50-day moving average today at 2170. Volume was significantly higher than previous week with 17,434 lots traded including 5,390 switches. 
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  • 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
  • Accueil
  • Useful Info
  • 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