Strong Rally in the Coffee Futures
Strong rally in the coffee futures market today, with the Arabica terminal taking back control of the action as the March 2025 contract surged 15.10 cents higher to close at 342.90, just shy of the session high of 342.95. Total trading volume in New York exceeded 40,000 lots for the first time since January 13th, as the spot contract settled at a historic high of 341.85. Following yesterday’s certified stock draw, market chatter focused on robust spot demand in Europe, particularly for Brazilian coffee, amid an already tight supply situation. Pricing activity will begin to pick up for buyers as the market approaches month-end and the delivery period for March 2025. The 618,000 bags of Brazil certified stock in Antwerp carry significant commercial value for spots in the current environment. Despite the flat price rally, the nearby March/May spread traded up to a 4.25-cent premium during the session before settling near unchanged at 4.00 cents.
Robusta prices extended their rally from Friday, closing another $189 higher basis March 2025 at $5452 per ton. The March/March arb closed back above 90 cents going out at 94.5 cents.
The options market in New York came back to life today after a few slower weeks. Some block trades we noted:
Coffee "C" Futures - NYCC - May25 300.00/320.00 (2x1) putspread laid up vs buy 337.25Δ8 paper sells the 2 @ .50cr 1400x700
Coffee "C" Futures - NYCC - May25 300.00/320.00 (2x1) putspread laid up vs buy 337.25Δ8 1400x700 sold the 2 @ .40cr
Coffee "C" Futures - NYCC - Dec25 440.00/500.00 callspread laid up vs 304.75Δ6 500x bought @ 4.55
Coffee "C" 2-Month CSO - NYCC - May25/Sep25 3.50/1.00 putspread 1750x bought @ .25 live
At the time of writing this:
USDBRL 5.9416 -0.03%
USDCOP 4317.6 +0.17%
Miami London Brazil
305-925-4847 +44-203-580-6099 +55-11-3509-5426
ICE Arabica
Volume:
41,658
ICE Robusta
Volume:
18,141
Brazil Arabica
Volume:
1,245
Arabica-Brazil Arbitrage
Arabica-Robusta Arbitrage
Arabica Switches
Robusta Switches
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