EFICO - MARKET NEWS - DAILY MARKET NEWS

Date: 06.04.2020 Coffee Closing 03.04.2020

New York 02/04 03/04   High Low
MAY20 119.35 114.90 -4.45 119.20 114.30
JUL20 120.70 116.50 -4.20 120.50 115.85
SEP20 121.70 117.60 -4.10 121.20 117.05
DEC20 122.90 118.80 -4.10 122.10 118.20
MAR21 124.00 119.90 -4.10 122.80 119.25
MAY21 124.90 120.65 -4.25 123.60 120.25

Sales: 40,306 lots

London 02/04 03/04   High Low
MAY20 1209 1191 -18 1207 1184
JUL20 1234 1220 -14 1234 1215
SEP20 1256 1241 -15 1255 1236
NOV20 1274 1260 -14 1274 1256
JAN21 1293 1280 -13 1295 1278
MAR21 1307 1297 -10 1312 1297

Sales: 21,583 lots

DJ Ice Coffee Review

NEW YORK, April 02 - Arabica coffee futures for May delivery ended 445 points lower at 114.90 cents a pound Friday. Activity was slow with the volume reaching 40,315 lots, including 13,589 switches. A weak technical outlook incited speculative ...
NEW YORK, April 02 - Arabica coffee futures for May delivery ended 445 points lower at 114.90 cents a pound Friday. Activity was slow with the volume reaching 40,315 lots, including 13,589 switches. A weak technical outlook incited speculative liquidation. A recent consolidation had attracted some long players that today appeared to exit the marketplace. The action was influenced by a strong dollar as investors moved to a safer currency. The Brazilian real declined 1.25 % to BRL 5.3174 a new low online with all LATAM assets. In related news, Colombia produced 806,000 60-kg bags in March, down 12 % on the same month last year, when production recorded 914,000 bags. Exports fell 21 % to 903,000 bags from over 1,1 million bags in March 2019. During the week, Arabica prices declined 95 points or 0.82 %. Commercial buying supported the market that continued to be affected by the coronavirus outbreak.

DJ Liffe Coffee Review

LONDON, April 02 - The Robusta market falls 1.5% over the course of today session, partially eroding the previous day’s gains. The loses appear to have been driven by the speculative community who liquidated longs established through the previous ...
LONDON, April 02 - The Robusta market falls 1.5% over the course of today session, partially eroding the previous day’s gains. The loses appear to have been driven by the speculative community who liquidated longs established through the previous session, as most local physical players claim the Covid-19 shutdown will only marginally slow the pace of the Coffee business in Vietnam. This selling drove values lower into the hands of resting commercial buying down the curve and as a normal market function the spot spread weaken in line with the flat price movement, leading May20/july20 to weaken to $31 discount on over 3,000 lots. Technically the market is holding some key support areas in the form of the lower Bollinger band average, whilst the slow stochastics nears oversold conditions. Given, the downside commercial stops were already triggered in bulk on the 9th March, most players will be looking for confirmation that the recent pace to the downside is slowing, at which stage would most likely commit to fresh longs.

Opening Quotations on: 06.04.2020

EUR / $
1.0809
£ / $
1.2261
CHF / $
0.9777
BRL / $
5.3463

Market News

COFFEE IS THE BEST THING TO DOUSE THE SUNRISE WITH ~ DREW SIRTORS