Coffee has maintenance of negative rhythm and has day of regular falls in ICE
Arabica coffee futures traded on ICE Futures US are trading at a loss on Friday, with the widening of the negative bias that prevails throughout most of the week. The December position was down 95 points at 127.65 cents a pound, after touching the low of 127.25 cents, with March having a 90 point devaluation.
According to international analysts, the day is marked by "more of the same." Speculative sales remain more active, while buyers continue to be quite reticent. December broke the lowest price level of the previous session at 127.50 cents, but there was no more effective continuity of sales. The market remains attentive to the climate in Brazil. This Friday already shows a considerable change in the conditions, with the increase of the cloudiness and diminution, although slight, of the temperature. There is an expectation that medium-intensity rainfall should be recorded by Sunday night on most of the country's coffee belt. The opening of the day occurred with highs, but, as verified in the last session, the advance was contained and the maximum was not more than 129.15 cents. Little by little, the sellers showed themselves more consistent and the casualties came back to happen. The minimum was at 127.25 cents. In the external segment, the day of mixed stock market trends in the United States, with Dow Jones being stable and Nasdaq showing gains. In commodities softs, sixth of gains for cocoa and lows for coffee, orange juice, cotton and sugar.
"We have a market pressured by the possibility of having good rains in the coffee belt of Brazil, something that had been waiting for a long time and this is being reflected in the terminal." We are ending September with successive falls, breaking very important intervals, like the one of 140 , 00 and 130.00 cents per pound Graphically, we continue to see a bearish trend, mainly because we are distancing ourselves from benchmarks such as 50 and 100 day moving averages, today at 135.35 and 134.40 cents per pound, "a trader says.
Vietnam's coffee exports dropped by about 20.5% in the period from January to September, compared to the same period last year. Between January and the end of the current month, the Asian country closes the shipment of a total of 1.12 million tons (18.7 million bags), the General Statistics Department said in a report on Friday. Revenues from exports increased 1.3% compared to the same period in 2016, reaching US $ 2.55 billion, according to the report. In September, Vietnam's coffee shipments are estimated at 90,000 tonnes (1.5 million bags), down from the August shipments of 95,000 tonnes.
According to information from the Council of Coffee Exporters of Brazil (Cecafé), in September, until the 26th, 1,515,288 bags of coffee were shipped, a daily average of 58,280 bags, up 32.5% from 1,143,325 bags shipped to the month of August. Of this total, 1,385,059 bags were of arabica, 17,753 bags of conillon and 112,476 bags soluble.
Technically, the December at ICE Futures US has resistance at 129.15, 129.50, 129.70, 130.00, 130.50, 131.00, 131.50, 132.00, 132.15, 132.50 , 133.00, 133.50, 133.65-133.70, 134.00, 134.45-134.50 and 135.00 cents per pound weight, with support at 127.25, 127.00 , 126.50, 126.00, 125.50, 125.00, 124.50, 124.00, 123.50, 123.00, 122.50, 122.00 and 121.50 cents per pound.
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