EFICO - MARKET NEWS - DAILY MARKET NEWS

Date: 19.11.2018 Coffee Closing 16.11.2018

New York 15/11 16/11   High Low
DEC18 110.05 112.60 +2.55 112.80 109.85
MAR19 113.80 116.30 +2.50 116.60 113.65
MAY19 116.60 119.10 +2.50 119.40 116.45
JUL19 119.25 121.75 +2.50 122.00 119.00
SEP19 121.80 124.30 +2.50 124.60 121.65
DEC19 125.35 127.85 +2.50 128.10 125.20

Sales: 30,292 lots

London 15/11 16/11   High Low
NOV18 1642 1628 -14 1628 1628
JAN19 1667 1646 -21 1663 1645
MAR19 1678 1658 -20 1676 1658
MAY19 1692 1672 -20 1689 1672
JUL19 1704 1686 -18 1702 1686
SEP19 1716 1700 -16 1716 1700

Sales: 11,058 lots

DJ Ice Coffee Review

NEW YORK, November 16 - ICE US coffee prices found support from the GCA stock report for October 2018, a weaker US Dollar, and light origin selling today. The nearby Dec18 and now active Mar19 futures settled at 112.60 and 116.30; up 2.55 and ...
NEW YORK, November 16 - ICE US coffee prices found support from the GCA stock report for October 2018, a weaker US Dollar, and light origin selling today. The nearby Dec18 and now active Mar19 futures settled at 112.60 and 116.30; up 2.55 and 2.50 cents, respectively. Volume (32,000 lots) was muted compared to the heavy trading in sessions prior as much of the activity leading to the Dec18 notice period is now complete. Just 11,008 contracts of open interest in Dec18 as of close of business Thursday, with now just two days left until the first notice day on Nov. 21st; the Dec18/Mar19 spread finished at 3.70 cents per pound. The GCA stock report for Oct. 18 confirmed a larger than anticipated draw of over 260k bags (5 yr avg was a draw of 125k bags) as inventory levels have declined 12.2% thus far in 2018. Also, higher initial margin rates took effect as of today for ICE US coffee futures (now $2,700 per lot). In other news, the seasonal chart for “C” prices shows a slight uptick possible into next week, with a more bearish outlook into the month of December as new crops in Latin America beginning coming to market in larger quantities. Technically, a small gap remains on the Mar19 chart between 117.20 and 117.40 to offer resistance, with support now around 111.00. Next Thursday is Thanksgiving in the US, and ICE US coffee futures will be closed; to then reopen on Friday the 23rd.

DJ Liffe Coffee Review

LONDON, November 16 - Arbitrage based profit taking applies the brakes to further upside momentum in London as flat prices close the trading week under pressure, although continue to operate well within the recent range. Commercial activity ...
LONDON, November 16 - Arbitrage based profit taking applies the brakes to further upside momentum in London as flat prices close the trading week under pressure, although continue to operate well within the recent range. Commercial activity remains limited at current levels, with only scatterings of industry-based buying chipping away into the move lower. With origin sellers all but absent, the bulk of the pressure into Robusta came via the arbitrage which widened 3.50 cents for the session as London traded through yesterday’s lows. This selling pressure was sufficient to hold London in negative territory throughout, defying a more positive macro in the form of a weaker Dollar Index and a firm Brazilian Real. The action of the session changes little in terms of London’s technical outlook and traders now await the release of this week’s commitment of traders reports, searching for much needed fresh momentum in either direction as we head into next week. Good volumes of options traded with out of the money calls generating much of the interest and participants continue to monitor accumulations of open interest above current market values.

Opening Quotations on: 19.11.2018

EUR / $
1.1416
£ / $
1.2827
CHF / $
0.9987
BRL / $
3.7417

Market News

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