september 30, 2022.

Arabica coffee futures corrected lower Friday but remained inside Monday’s substantial 1,365 point range. The December contract settled 415 points lower at 221.55 cents a pound. Volume was moderate through the week. A total of 33,877 contracts traded today including 8,989 switches. The nearby December -September switch ended at 9.00 cents premium. Markets keep measuring concerns about a global recession an escalating conflict between Russia and Ukraine. The dollar index made new highs mid-week but corrected on Wednesday after reaching the high of 114.74. The British pound strengthen earlier in the week, along with the euro. In Latin America, the real breach lower on Monday and consolidated near 5.40 for the remaining of the week. The Colombian peso continues to weaken reaching a low of 4607 near the lows of the last 3 months. The certified stocks decrease 9,229 bags to 426,180 bags. Pending 640 bags. No grading today. A total of 45,826 bags were withdrawn from the exchange this week.  
 
In Robusta the overnight Fed comments naturally generated a negative premarket sentiment, with the speculative community focused on U.S. stocks printing a 22-month low. Values opened $6 down and swiftly attacked the lower Bollinger band average at $2164 basis Nov22 and then the previous day’s low at $2159 amid thin volume as primary focus remains firmly Arabica based. Although the follow through selling was light the natural buyers were not seen through the day’s price bracket, which saw values unable to stage any type of sustained recovery ending the day just shy of the intraday low at $2151.