Coffee registers new session of slight losses at the closing of the week at ICE
Arabica coffee futures traded on ICE Futures US ended Friday with slight losses in a regular session with no major news. The market expectation of rainfall in the coffee belt of Brazil has begun to materialize, however, most of the participants already point out that this realization is duly priced. Such pricing has cost the terminal a considerable price. Until recently, the expectation was for December to fetch levels in excess of 145.00 cents, while at this point not even the 130.00 cents threshold can be tested. Some operators are working with the prospect of a "technical normalization" starting next week, with the consolidation of a water recovery framework in Brazil, but with the maintenance of the concern of depressed crops in Brazil, inventories in use and projections not very encouraging in the which refers to the offer for 2018. "In the Brazilian physical market, buyers remitted their offers to ICE, and the result was an even more withdrawn market with a low number of closed deals. small lots to solve short-term problems for the coffee grower, which shows a lot of concern about the general state of the coffee plantations, "said the Carvalhaes Office in its weekly commentary. The sixth was fought in the Brazilian physique, without effective news. On this farm, the price idea for good coffees in the south of Minas Gerais was 460 reais.
At the close of the day in New York, the December position depreciated by 45 points, at 128.05 cents per pound peso, with the maximum at 129.15 cents and the low of 127.25 cents, with March registering oscillation negative of 45 points, with 131.65 cents, with the maximum of 132.70 cents and the low of 130.85 cents per pound. On Euronext / Liffe, for robust grains, November advanced at $ 19, at $ 1,968 per ton, with the January gain of $ 16, at $ 1,944 per ton.
According to international analysts, the day was marked by "more of the same." Speculative sales remained more active, while buyers continued to be rather 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 continued to watch the weather in Brazil. This Friday has already shown a considerable change in conditions, with increased cloudiness and a slight decrease in 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 modest highs for the stock exchanges in the United States, with commodities softs having a sixth of gains for cocoa, orange juice and sugar and low for coffee and cotton.
"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.
Certified coffee stocks at ICE Futures US had a reduction of 535 bags, with 1,805,686 bags.
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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