Coffee Market Report July 21 2017
The Certified washed Arabica coffee stocks held against the New York exchange reported 450 bags lower on the day to register these stocks at 1,542,025 bags. There was a decrease of 5,300 bags to the number of bags pending grading for this exchange; to register these pending grading stocks at 25,891 bags.
The commodity markets had a mixed day yesterday, with the Euro trading firmer against a basket of other currencies and the oil markets choppy on the day. It was a mildly softer day for Oil, Wheat, Sugar and Palladium markets whereas a positive finish for Cocoa, Cotton, Copper, Corn, Soybean, Gold Silver and Platinum markets. The Reuters Equal Weight Continuous Commodity Index registered a increase of 0.1375% on the day to register at 406.20. The day starts with the U.S. Dollar steady and trading at 1.2975 to Sterling and at 1.161 to the Euro, while North Sea Oil is steady and is selling at US$ 48.27 per barrel.
The London market started the day on a near to steady note yesterday, but with a softer opening in New York to set direction in the early morning session with reasonable volume recorded at the beginning of the day. The volume thinned out as the day pressed ahead and with both markets settling into a narrowly negative range where much of the day was spent in New York, while the levels in London steadied into narrowly positive range for much of the day, where late in the session an attempt lower met with resistance, London finished the day in positive territory and at the high of the session, while New York touched upon par briefly in midsession tho lose the gains and settle in softer territory closer to the days high, both markets in modest volume and a narrow range, set the close yesterday, as follows;
LONDON ROBUSTA US$/MT NEW YORK ARABICA USc/Lb.
JUL 2129 + 4
SEP 2113 + 3 SEP 135.00 – 0.80
NOV 2096 + 2 DEC 138.55 – 0.80
JAN 2074 – 1 MAR 142.00 – 0.80
MAR 2063 Unch MAY 144.20 – 0.80
MAY 2072 + 1 JUL 146.30 – 0.80
JUL 2090 + 2 SEP 148.35 – 0.80
SEP 2100 + 2 DEC 151.20 – 0.80
NOV 2113 + 2 MAR 154.00 – 0.80
JAN 2120 + 2 MAY 155.55 – 0.80