Coffee Futures Settled Lower After the Long Rally
Coffee futures ended lower today for the first time in six sessions, capping a volatile week where prices posted significant gains. Over the week, prices surged by 17.45 cents in the New York terminal and $424 per ton in the London market. Today's early action looked like more hedge lifting, with the most active arabica contract trading 9.15 cents higher than the opening print of 226.30 to the session high of 335.45 in the first 3 minutes of trading. This follows a one-day break for the holiday where traders had the chance to assess the impact of Wednesday's move and the initial margin rate increase.
Commercial activity was light today, but trading volume was decent especially considering the holiday yesterday. Once the liquidation bid was gone prices drifted lower to close in negative territory. Due to the holiday there will be no COT report published today.
At the time of writing this:
USDBRL 5.9743 -0.68%
USDCOP 4,374.73 -0.98%
Miami London Brazil
305-925-4847 +44-203-580-6099 +55-11-3509-5426
ICE Arabica
Volume:
58,416
ICE Robusta
Volume:
17,389
Brazil Arabica
Volume:
830
Arabica-Brazil Arbitrage
Arabica-Robusta Arbitrage
Arabica Switches
Robusta Switches
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