Efico

NEW YORK. May 22 - Arabica coffee futures closed lower Friday in speculative switch related selling. The active July contract settled 115 points lower at 106.30 cents a pound. Volume reached 43056 lots including 11950 switches. The active nearby July – September switch traded down to -1.70, triggering the speculative selling. After trading, on par with activity observed at the end of March, the recent weakening of the structure could indicate that the short-term shortage that had boosted the switch may be easing. The strengthening of the dollar added pressure on commodity prices today. The Brazilian real and the Colombian peso slipped as well. During the week, arabica prices declined 3.04 % or 3.25 cents. Prices traded most of the week inside a small range dominated by short term specs. until Friday when extended lower. The USDA began to publish the attache’s crop reports. Some analysts disagreed with the Honduras figure at 6.1 million 60-kg bags or 9.6 % higher than the previous year. After the USDA publishes all their crop estimates, we will make a special analysis ahead of the World Coffee Report on June 12. Monday, New York, and London markets will be closed on holiday.

LONDON. May 22 - Robusta Futures finished strong today up +18 points to close at 1207. Volume reached 18.712 lots including 4.366 switches. The july 20 /sep 20 spread gained small ground to 21 discounts on 2.578 lots. Robusta Futures finished the week strong closing +28 higher since Monday. The market tested the 1.182 Support following strong spec buying on the close. The next target should be the 50-day EMA at 1214